Year ends with tax revenue down
JACKSON State revenue collections for the month of June, the last month of the fiscal year, were 3.5 percent or $23.8 million less than the amount collected in June 2016.
And for the fiscal year, tax collections were $20 million or 0.37 percent less than the amount collected the previous fiscal year, according to information gathered by the Mississippi Department of Revenue.
For the second year in a row, the state will have collected less tax revenue than the previous year from Department of Revenue sources. DOR collects the bulk of state revenue such as the taxes on income, retail items, corporations and so-called sin items, such as tobacco, alcohol, gambling and beer.
The state has other smaller sources of revenue that have to a certain extent propped up the state budget in recent years.
Read more: http://www.djournal.com/news/year-ends-with-tax-revenue-down/article_2603816b-bb5e-5428-a9db-e30cb46540fa.html