Revenue Commissioner Alan LeBovidge today announced preliminary revenue collections for November totaled $1.015 billion, a decrease of $29 million or 2.8 percent compared to last November.
Receipts for the month are $16 million above the revised benchmark corresponding to the governor's revised revenue estimate of $15.145 billion. Year-to-date collections are $5.583 billion, a decrease of $93 million or 1.6 percent compared to the same period last year.
"The Tax Amnesty program gave the November numbers a boost," LeBovidge said. "The improved technology that DOR will use to find people who have not paid back taxes, seemed to be an incentive to bring them forward."
The November collections include $32 million that was paid under the Tax Amnesty program that began October 1 and ended yesterday (December 2). The total collected under Amnesty will not be known for several days because mail postmarked today will be counted and included in the December revenue collections.
Income tax collections for November total $569 million, a decrease of $71 million or 11.0 percent from last November. Withholding tax collections total $623 million, a decrease of $33 million or 5.1 percent. Sales and use tax collections are $285 million, down $15 million or 4.9 percent. Corporate tax collections total $23 million, up $45 million from last November.
Year-to-date income tax collections total $3.030 billion, a decrease of $282 million or 8.5 percent compared to the same period last year. Income tax withholding collections for the first five months of fiscal 2003 are $2.843 billion, down $155 million or 5.2 percent. Total sales and use tax collections are $1.562 billion, a decrease of $17 million or 1.1 percent. Year-to-date corporate tax collections are $265 million, up $118 million or 80 percent.
<strong>Monthly Revenue Report</strong>
(PDF) (through November 30, 2002)
Monthly revenue, fiscal year-to-date revenue and actual tax collections.