State Revenues Holding Their Own
JACKSON, Miss. (WCBI) – Two months into the new budget year, state revenues are holding their own against legislative estimates.
July and August totals from sales, income, business and gambling taxes and other sources are 2.3% above the estimates legislators plugged into the budget they approved last spring.
Sales tax collections are slightly below estimates but casino, business and personal income taxes all have exceeded estimates.
That’s good news for state and local agencies that depend on the budget. Early revenue shortfalls often mean cuts must be made in education, public safety, health care and other services.