Office of Administration News
February 2, 2010
State Releases January 2010 General Revenue Report
Announcement of Additional Expenditure Restrictions
State Budget Director Linda Luebbering announced today that 2010 fiscal year-to-date net general revenue collections declined 12.5 percent compared to fiscal year 2009, from $4.44 billion last year to $3.88 billion this year.
Net general revenue collections for January 2010 decreased by 22.4 percent compared to those for January 2009, from $722.8 million to $561.2 million.
Because of the revenue situation, additional expenditure restrictions of $73.8 million are being made to ensure the budget stays balanced for the remainder of the fiscal year. Additional details are attached.
GROSS COLLECTIONS BY TAX TYPE
Individual income tax collections
- Decreased 11.2 percent for the year, from $3.23 billion last year to $2.88 billion this year.
- Decreased 14.5 percent for the month.
Sales and use tax collections
- Decreased 7.5 percent for the year from $1.12 billion last year to $1.04 billion this year.
- Decreased 11.4 percent for the month.
Corporate income and corporate franchise tax collections
- Decreased 13.4 percent for the year, from $283.1 million last year to $245.3 million this year.
- Decreased 15.5 percent for the month.
All other collections
- Decreased 4.2 percent for the year, from $245.8 million last year to $235.4 million this year.
- Increased 8.8 percent for the month.
Refunds
- Increased 14.1 percent for the year, from $445.9 million last year to $508.7 million this year.
- Increased 60.2 percent for the month.
