Monday, March 14, 2011

February Sales Taxes Boost Revenues 12%

Finance Director
Preston Doerflinger
Sales tax increases in February boosted state general revenues 12 percent above the same month a year ago and 4 percent above expectations, the Office of State Finance reported today.

"We had double-digit growth again in sales tax receipts, compared with February a year ago, and it came when sales tax collections of other states trailed off," said Finance Director Preston Doerflinger.

He said general fund revenues for the month totaled $247.1, up $25.7 million from a year ago in February.

Year-to-day revenues, he added, are up almost 10 percent for the budget year ending June 30, but remain well below 2008 levels.

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