State general fund revenues for the month of July totaled $352.3 million, the Tax Department announced today. One month into the current 2010 fiscal year, general fund deposits are down by 3.9 percent compared with last year.

General excise and use taxes, the largest single category of collections, amounted to $200.6 million in July. For year-to-date fiscal year 2010, general excise and use taxes have decreased by 8.6 percent over last year, an indication of the continuing slowdown in consumer and visitor spending in the state.
Transient accommodations tax collections were about $14.7 million for the month, down by 22 percent compared with last July.
Individual income tax collections reached $118.4 million in July, decreasing by 2.7 percent compared with the previous year. The Tax Department processed a larger number of individual income tax refunds in July, partially contributing to the lower collections for the month.