Revenue Commissioner Alan LeBovidge today announced revenue collections for December totaled $1.784 billion, an increase of $197 million or 12.4 percent over last December. Receipts for the sixth month of fiscal 2006 were $176 million above the benchmark.
Year-to-date tax collections were $8.454 billion, an increase of $632 million or 8.1 percent over the same period last year. Revenues were $172 million above the revised year-to-date benchmark. On October 26, the full-year benchmark was raised by $509 million to $17.957 billion.
"Collections in most tax types ran above the benchmark and corporate and business tax collections were very strong in December," LeBovidge said.
Income tax collections for December totaled $959 million, an increase of $43 million or 4.7 percent from last December. Withholding tax collections totaled $786 million, an increase of $71 million or 9.9 percent. Sales and use tax collections were $318 million, up $7 million or 2.2 percent. Corporate and business tax collections were $373 million, an increase of $170 million or 83.9 percent.
Year-to-date income tax collections totaled $4.648 billion, an increase of $238 million or 5.4 percent. Income tax withholding for the first six months of fiscal 2006 totaled $3.977 billion, up $201 million or 5.3 percent. Total sales and use collections were $2.023 billion, an increase of $77 million or 3.9 percent. Corporate and business taxes for the first six months of fiscal '06 totaled $904 million, an increase of $337 million or 59.4 percent.
December 2005 Tax Collection Summary (preliminary as of January 3, 2006)
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