Here’s hoping the economy is turning around.
The biggest improvement in August came from one of the most important sources: individual income taxes, which were up 24 percent over August 2009, a difference of more than $120 million.
Gross sales tax collections were also up 3.3 percent, but corporate income taxes actually fell by 158 percent to the point the state refunded more money to businesses than it took in.
Other gains were made in tobacco taxes, up 12.4 percent, and motor fuel taxes, which were up 22 percent.
The news is good, too, for the fiscal year, where tax collections are up 8.6 percent over the same period last year.The state budget for fiscal 2011, which began July 1, is predicated on a 4 percent growth in tax collections.