State tax collections fall again
The state’s January tax collections came in below expectations, prompting Gov. Haley Barbour to send a statement warning additional budget cuts are possibly coming.
“The State Tax Commission reported (Jan. 29) that revenue collections for the month of January fell substantially below expectations. Previous budget cuts were based on an 8.2 percent shortfall for the first half of the fiscal year, but preliminary reports show January’s tax collections missing the mark by 12.2 percent, or $43.4 million. It is the worst showing of the current fiscal year. It is also the 17th consecutive month revenue has fallen short of estimates and the 14th consecutive month where less money was collected than the previous year.
“I soon will be forced to look at whether additional cuts will be necessary in the current fiscal year beyond the $437 million in cuts already made. The law requires a balanced budget, and I will uphold the law.”
To sign up for Mississippi Business Daily Updates, click here.
Twang & Tourism: The Country Music Trail
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- DAVID DALLAS: Mr. McDaniel goes to Washington
- Judge to hear from True the Vote as McDaniel attempts to overturn loss to Cochran
- Weyerhaeuser investing $57M to modernize lumber mill
- Google chooses Mad Genius as example of Internet use
- Moon River Foods creating 100 jobs in Mississippi Delta
- Under state probe, All American Check Cashing gets ‘F’ rating from Better Business Bureau
- Walker sentenced to 18 months for fraud, conspiracy
- Two BancorpSouth mergers delayed by federal inquiries
- Three indicted, alleged to have embezzled from agency
- Health officials identify another case of chikungunya virus