Tuesday, April 5, 2011

General Revenue Collections Up 6.5% in 2011

State Budget Director Linda Luebbering announced today that 2011 fiscal year-to-date net general revenue collections increased 6.5 percent compared to 2010, from $4.68 billion last year to $4.98 billion this year.

Net general revenue collections for March 2011 increased by 9.2 percent compared to those for March 2010, from $461.7 million to $504.3 million.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections

  • Increased 3.3 percent for the year, from $3.76 billion last year to $3.88 billion this year.
  • Increased 6.0 percent for the month.

Sales and use tax collections

  • Increased 0.7 percent for the year from $1.34 billion last year to $1.35 billion this year.
  • Decreased 5.7 percent for the month.

Corporate income and corporate franchise tax collections

  • Increased 8.2 percent for the year, from $306.0 million last year to $331.1 million this year.
  • Increased 8.4 percent for the month.

All other collections

  • Increased 16.5 percent for the year, from $328.5 million last year to $382.5 million this year.
  • Increased 11.6 percent for the month.

Refunds

  • Decreased 8.6 percent for the year, from $1.05 billion last year to $956.7 million this year.
  • Decreased 4.7 percent for the month.

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