Tax collections are up, but the state Revenue Director cautions not to make too much of the numbers quite yet. Sales tax revenue is up 4.4 percent year-to-date. Individual income tax collections are up 4-percent. Corporate income and franchise tax collections are up 13-and-a-half percent. November helped turn around three down months. State Revenue Director Carol Fischer does point out the numbers don’t include post-Thanksgiving, Christmas shopping. The sales tax is important, but not as important as individual and corporate income taxes, which the state relies on to pay for its programs and services. The fiscal year began July 1st. Fischer says collections need to pick up to meet the three-percent revenue growth needed to fund the budget approved by the Legislature. Fischer adds that it’s too difficult to predict yearly growth four months into the fiscal year.
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