April State Tax Collections Down $1B
The state Department of Revenue collected $1.78 billion in taxes in April, down $953 million or 34.9 percent from the same month a year ago.
April collections were also $456 million less than the department's own benchmark for the month. The department said a 40.7 percent decline in income tax collections was mainly responsible for the revenue decline.
Withholding taxes totaled $665 million, down $20 million from April 2008. Corporate and business taxes totaled $27 million, down $22 million or 44.9 percent from a year ago. Sales tax collections were $309 million, down $28 million or 8.2 percent compared to last year.
Year-to-date collections hit $15.2 billion in April, down $1.9 billion from a year ago. Taxpayers received $382 million in refunds during the month, up $77 million or 25.3 percent from last April.
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