April 24, 2014

State releases General Revenue Report for November (AUDIO)

The numbers for state tax collections for November show the state is looking at a six percent increase compared to those for November of 20-11.

State Budget Director Linda Luebbering says compared to November of last year, the state has seen an increase from $583 point 6 million to $618 point 7 million in general revenue collections. Luebbering says the improving economy is having a positive impact on the state’s revenue collection.

She says however, these numbers do not include tax collections for the holiday shopping season, including Black Friday. “It’s really too early to know what happened over the holiday season. The tax collections don’t come in instantaneously,” she says. “We would expect to know more about the holiday season sales at the end of December.”

Luebbering says it will take a few months before she has a good idea of any positive impact from the holiday sales. “That even spills over to a month after that as well, so we’ve got a couple of months,” she says.

Luebbering says she expects to see a continued upward trend in the state’s revenue.

 

AUDIO: Mary Farucci reports. (1:01)