Budget director: State revenues are up

(From State Budget Director Linda Luebbering)

State Budget Director Linda Luebbering announced today that 2014 fiscal year-to-date net general revenue collections increased 2.8 percent compared to fiscal year 2013, from $3.77 billion last year to $3.87 billion this year. 

Net general revenue collections for December 2013 increased by 5.1 percent compared to those for December 2012, from $722.9 million to $759.6 million. 

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections

• Increased 2.8 percent for the year, from $2.63 billion last year to $2.71 billion this year.
• Increased 3.6 percent for the month. 

Sales and use tax collections

• Increased 6.4 percent for the year from $920.9 million last year to $979.6 million this year.
• Increased 25.9 percent for the month. 

Corporate income and corporate franchise tax collections

• Increased 21.5 percent for the year, from $214.5 million last year to $260.6 million this year.
• Increased 3.2 percent for the month. 

All other collections

• Decreased 20.7 percent for the year, from $236.0 million last year to $187.1 million this year.
• Increased 36.2 percent for the month. 

Refunds

• Increased 10.6 percent for the year, from $240.7 million last year to $266.2 million this year.
• Increased 106.8 percent for the month.