State tax collections down for September, up for year

The state's general revenue collections decreased 1.5 percent in September to $697.3 million, compared to $707.7 million in the same month last year.

Tax collections are up 1.9 percent to $1.78 billion for the fiscal year started July 1, compared to $1.75 billion at the same time a year ago, according to a news release.

Fiscal 2012 gross revenue collections by tax type:

• Individual income tax collections are up 2.2 percent to $1.25 billion, compared to $1.22 billion last year.
• Sales and use tax collections have increased 3.1 percent to $467.1 million from $453.1 million.
• Corporate income and corporate franchise tax collections are down 20.6 percent from the same time last year, $103.5 million compared to $130.5 million a year ago.
• All other collections dropped 16.3 percent to $106 million, compared to $126.6 million.
• Refunds are down 22.1 percent to $139.7 million from $179.3 million last year.

Compared to the same month of the previous year, September of fiscal 2012 individual income tax collections are up 1 percent; sales and use tax collections are down 1.2 percent; corporate income and corporate franchise tax collections decreased 20.3 percent; all other collections dropped 25.6 percent; and refunds decreased 36.1 percent, according to the release.[[In-content Ad]]