State revenue climbs in September

Fiscal year-to-date collections are up 6.5 percent to $1.84 billion from $1.73 billion last year, according to the state monthly revenue report issued Oct. 4. September net revenue was $741.2 million, up 6.8 percent from $694.2 million in September 2005.

Individual income tax collections were up both for the year and the month. They increased 7.1 percent for the year to $1.19 billion and 10.7 percent for September.

Sales and use tax collections were down 0.4 percent for the year to $500.3 million and down 3.4 percent for the month.

Corporate income and corporate franchise tax collections decreased 4.6 percent for the year to $137 million but increased 0.9 percent for the month.

Meanwhile, all other collections increased 1 percent for the year to $110.9 million but decreased 31.6 percent for the month.

Refunds were down significantly, falling 29.9 percent for the year to $96.2 million from $137.4 million and dropping 42.6 percent for the month.

This story originally appeared in SBJ’s Oct. 4 free e-news Daily Update. Click here to register.