Robert R. Bliss
Revenue Commissioner Henry Dormitzer today announced that preliminary revenue collections for November total $1.319 billion, up $89 million or 7.3 percent from last November.
The monthly collection is also $48 million over the monthly and year-to-date benchmark corresponding to the FY 08 full year estimate of $20.225 billion, which was revised upward in October by the Executive Office for Administration and Finance from the previous estimate of $19.825 billion. FY08 year-to-date tax collections total $7.289 billion, which is $311 million or 4.5 percent more than collected at this point a year ago.
"November is a smaller than average month for collections, with no quarterly or estimated payments due. The growth in collections came in from all sectors," Revenue Commissioner Henry Dormitzer said.
November income tax withholding collections totaled $753 million, up $40 million or 5.7 percent over a year ago and $14 million above the monthly benchmark. Sales tax collections totaled $333 million, up $10 million or 3 percent from a year ago which exceeded the monthly benchmark by $2 million. Corporate and business taxes were $56 million, which was less than a year ago but $19 million over the monthly benchmark. All other sources of tax revenue came in strong, with $163 million in collections, up 9.2 percent over a year ago and $17 million above the monthly benchmark.