State revenue grows 9.6% in April

Fiscal year-to-date net general revenue collections are up 5.6 percent to $6.31 billion, compared to $5.98 billion the previous year, the state reported Friday. April collections compared to April 2006 increased 9.6 percent to $1.13 billion, from $1.03 billion.

Collections in all categories are up, as well.

Sales and use tax collections grew 3.1 percent for the year to $1.66 billion, from $1.61 billion, and increased 10.2 percent for the month.

Individual income tax collections climbed 6.7 percent for the year to $4.78 billion, from $4.48 billion. For April, individual income tax collections increased 11.1 percent.

Corporate income and corporate franchise tax collections grew modestly for the year, by 2.7 percent, to $502.7 million, but saw an increase of 26.7 percent for the month.

All other collections increased 2.1 percent for the year to $391 million, from $382.9 million, and grew 38.9 percent for the month.

Refunds also were up, growing 3.9 percent for the year to $1.02 billion, from $982.6 million, and increasing 36.7 percent for the month.

State officials predict the state will return to moderate growth, due to rising energy prices and struggles in the residential construction market.[[In-content Ad]]