State revenues down in August, up for year

Total revenue collections in August were $647.1 million, a 0.4 percent decrease from $649.7 million in August 2006, according to a state news release. Fiscal year-to-date collections, however, were up 2.4 percent through August to $1.13 billion, from $1.1 billion in the same period last year.

Sales and use tax collections saw gains for both the year-to-date and August. They increased 5.8 percent to $374.4 million for the year, from $353.9 million in 2006, and 2.9 percent for the month.

Individual income tax collections also increased – 4.8 percent for the year, to $735 million from $701.5 million, and 5.5 percent for the month.

Corporate income and corporate franchise tax collections increased 12.5 percent for the year, to $43.9 million, from $39 million last year, but fell 10.1 percent for the month.

All other collections saw declines. The revenue category decreased 12.9 percent for the year, to $70.1 million from $80.5 million last year and decreased 20.6 percent for August.

Refunds increased 30.7 percent for the year, to $94 million from $71.9 million last year, and were up 46.1 percent for the month.