The fifth month of the new fiscal year bounced back from a lackluster October with solid revenue gains in the November report. Overall, November revenues increased $124.6 million or 7.3 percent over November of a year ago. Altogether, the state took in $1.844 billion in November. Individual income taxes, the largest category, increased $90.7 million for the month, growing 10.5 percent. Inside these numbers, refunds were down $7.1 million and withholding payments, a good barometer of economic activity, were up $78 million. Income tax payments were up $8.9 million.
Sales Tax Steady
Net sales tax collections were up 1.8 percent on total collections of $465.8 million. Corporate taxes were up $7.2 million on collections of $24.2 million. Corporate refunds were down $9.2 million while estimated corporate payments were up $5 million. Title ad valorem taxes declined $4.05 million or -5.1 percent. Title, tag and fees increased $1.4 million or 5.5 percent. Tobacco and alcoholic beverages collections were both up, 6.4 percent and 3.2 respectively.
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