Drop in tax collections blamed on computer system swap
by Associated Press
Published: October 15,2012
JACKSON — A computer conversion at the Mississippi Department of Revenue delayed some revenue collections from being posted and contributed to a report that showed a September drop in tax collections.
Agency spokeswoman Kathy Waterbury tells the Northeast Mississippi Daily Journal during the “time-out” for conversion to the new system, tax returns were not posted to taxpayer accounts.
She says revenue is not recognized until the return posts, even though the money was in the treasury.
Waterbury says all the returns posted within the first few days of October will be reflected in October collections.
A summary of revenue collections for the month of September by the staff of the Legislative Budget Committee revealed collections were $37 million less than for the same month in 2011.
— Northeast Mississippi Daily Journal
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Fervor grows for Tuscaloosa Marine Shale
- Mississippi Power CEO's departure due to withholding Kemper information from regulators
- Hosemann revels in victory over Court's redistricting ruling
- LNG facility hoping to begin exporting natural gas
- Tenn. company makes unspecified offer to lease hospital
- Airport's food irradiation business could create new jobs
- In wake of bond issue failure, golf course fights to stay playable
- Nullification and interposition
- Ag officials say late planting reaching historical proportions