July-to-September state tax revenue up
Advertiser Staff
State tax revenue collections through the first three months of the fiscal year are up 1.7 percent over last year.
The state collected $446.9 million in revenue in September.
General-excise taxes and use taxes, the largest category, are up 1.8 percent over last year. Hotel room tax collections are up 1.6 percent. Individual income tax collections are up 1 percent. And corporate income tax collections are down 37.3 percent.
The state Council on Revenues has predicted 1 percent revenue growth for this fiscal year.
Lower growth projections because of the state's slowing economy have the state anticipating a deficit by the end of the fiscal year if spending cuts are not made.