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April revenue up 10.6 percent over last year

by AP posted May 15 2012 4:48PM

RICHMOND, Va. (AP) - Virginia's revenue collections rose more than 10 percent in April compared with a year ago, putting the state ahead of the revenue forecast for the year.
Gov. Bob McDonnell's office Tuesday said total revenue collections for the year have risen 5.9 percent, compared with a revised annual forecast of 4.6 percent growth.
In one of the year's biggest months for tax collections, April receipts were ahead of the same month last year thanks to an increase in taxes withheld from salaries and paychecks and taxes paid by the self-employed and investors.
Sales and use tax collections increased slightly, and a nearly 5 percent decline in income tax refunds issued during the month contributed to the growth.
April's numbers build on the 7.6 percent growth rate seen in March.


Filed Under :
Topics : Business_Finance
Location : RichmondVirginia
People : Bob McDonnell
05/15/2012 4:48PM
April revenue up 10.6 percent over last year
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