Quantcast
Home / Home news / Arizona reports significant gain in state revenue

Arizona reports significant gain in state revenue

Legislative budget analysts report what they say is clearly a significant development in Arizona’s economic recovery.

The Joint Legislative Budget Committee staff says state sales tax collections in January were up 6.2 percent from a year earlier, excluding the temporary sales tax that voters approved last May.

The report credits the holiday retail season.

The analysts note that January was the fourth straight month with year-over-year growth in sales tax collections, but they say January’s increase was significantly larger than previous months.

Overall state revenue in January rose by 7.5 percent, again excluding money from the temporary sales tax increase. That’s the sixth straight month of year-over-year increases.

January’s individual income tax collections were up 11 percent over a year earlier, but analysts say withholding changes likely caused that.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

 

x

Check Also

vote-1-web

Arizona voter registration up nearly 58,000 since November

Voter registration in Arizona has increased by nearly 58,000 since the November general election even though the next full election cycle is nearly two years away.