money scalePreliminary tax revenue collections for September totaled $2.01 billion, up $250 million (14.2 percent) from the same period a year ago, according to the Department of Revenue.

The September revenue is also $197 million above the monthly benchmark, according to a statement.

"The September collection is a dramatic improvement from September 2009, which was down nearly 16 percent from the prior year," said Department of Revenue Commissioner Navjeet K. Bal. "While we are always cautious in our forecasting, the first quarter FY11 results reflect a growing economy."

Income tax collections for the month totaled $1.04 billion, up $76 million (7.8 percent), according to a statement. Sales tax collections totaled $400 million and were up $17 million (4.6 percent) from the same period a year ago. Corporate/business tax collections totaled $420 million, up $145 million (52.8 percent).

Tax Revenue Increases In September

by Banker & Tradesman time to read: 1 min
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