State revenue collections fall 5 percent in July

State Budget Director Linda Luebbering announced Aug. 2 that July net general revenue collections decreased 4.8 percent to $481.4 million from $505.7 million in July 2012.

Individual income tax collections increased 0.2 percent for the year to $341.9 million from $341.3 million a year ago. Sales and use tax collections increased 4 percent for the year, to $151.3 million from $145.4 million.

Corporate income and corporate franchise tax collections were up 10.4 percent in July compared to the same month last year, according to the news release. The corporate income and franchise tax collections landed at $18.6 million last month, up from $16.8 million in July 2012.
 
All other tax collections decreased 72.5 percent to $15.4 million from $56 million last year. Refunds fell to $45.6 million, down 15.1 percent from $53.7 million in July 2012, according to the report.