Quantcast
Home / budget / Arizona revenue drops in February as refunds rise

Arizona revenue drops in February as refunds rise

Arizona’s tax collections in February dropped from the same month a year ago, raising questions about its impact on the state’s fiscal situation.

Legislative budget analysts report that February revenue totaled just under $308 million, or about 23 percent below the revenue from February a year ago.

The analysts say the drop apparently was largely due to more and bigger individual income tax refunds in February.

In contrast, sales tax collections continued to increase in February, with collections up 5.7 percent over a year earlier.

The legislative budget office says its advisory panel of experts will meet in mid-April to consider updating the revenue forecast that lawmakers use while preparing a new state budget.

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 This material may not be published, broadcast, rewritten, or redistributed.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Your email address will not be published.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

blood-test-web

Bill would require blood, alcohol testing in serious crashes

The parents of an 18-year-old who was killed in a crash want legislation passed that requires drug or alcohol testing for drivers involved in collisions where people are seriously injured or killed.