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 Tax collections down 15.5% less than last year, -$298.7 million Minimize
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Posted by: Northern News Network 7/2/2009 6:41 AM

Tax collections are 15.5% less than last year's total, compared to an estimated %5.6 drop that the legislature had estimated, nearly $298.7 million below 2008. The final 2009 totals won't be available until late July, when all the year-end adjustments by state agencies are completed. The legislature adjourned with a projected general fund surplus of $300 million by mid-2011, with the expectation that it could absorb some plunging revenues.

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