Ad Spot

Tax collections subdued in first half of state budget year

By Staff
From staff and wire reports
Jan. 3, 2002
Lagging tax collections do not come as a surprise to some members of the local legislative delegation.
Mississippi tax collections fell $113.4 million behind expectations from July 1 to Dec. 31, the first half of fiscal 2002. That's nearly 6.5 percent below an estimate set last spring.
Numbers for the first six months of the budget year were released by the state Tax Commission on Wednesday, less than a week before lawmakers convene a three-month legislative session that's expected to be dominated by setting a tight budget for next fiscal year.
There are encouraging signs. House Appropriations Chairman Charlie Capps, D-Cleveland, said despite the shortfall in collections, he sees reason for optimism.
He pointed to sales tax collections, which were $30.8 million, or 4.23 percent, behind expectations for the first half of the year. In December, sales tax collections were $685,724, or less than 1 percent, behind expectations.
December numbers represent sales made in November, before the heart of the Christmas shopping season.
I'm certainly encouraged by that,'' Capps said. That's the first time we've met our sales tax (projection) in a while.''
Corporate tax collections had the poorest performance in the first half of fiscal 2002, falling $35.1 million, or 30.25 percent, below expectations.
Gaming fees and taxes lagged $10.3 million, or 11.38 percent, behind where experts thought they'd be.
Gov. Ronnie Musgrove warned lawmakers last spring that they were planning to spend too much in fiscal 2002. Slow tax collections forced him in mid-November to trim $55 million from the $3.58 billion general fund.
Musgrove has said lawmakers are on track again to overspend, but he has not submitted his spending ideas for fiscal 2003.

Franklin County

Franklin County Cattlemen’s Association names Cattleman of Year at annual meeting

Franklin County

Farmers market offers vouchers for those 60-plus

Franklin County

Vaccine distribution begins in Franklin County 

Franklin County

County adopts collaborative action plan for hazard mitigation

Franklin County

Commissioners explain split vote regarding county engineer’s contract renewal

Franklin County

Ashlyn & Austin James – Aug. 1, 2020

Features

Local florists offer tips for wedding beauty in blooms

Franklin County

Virtual limitations brings new innovation in 4-H 

Franklin County

Officials urge safety during winter weather

Franklin County

Vaccine distribution widens

Franklin County

Franklin County sees fewer students choose virtual

Franklin County

First Metro Bank hosts fundraiser for FAME Ranch 

Franklin County

Franklin County Tournament Champions

Franklin County

ADPH expands vaccine distribution

News

Russellville Fire Department presents annual awards

Franklin County

Tiffin Motorhomes sells to THOR Industries

News

306 Barbecue plans for Russellville location

News

RCS returns to school with increased in-person numbers

Franklin County

DHR seeks foster parents

Franklin County

ADPH pleas for halt to COVID vaccine phone calls

Franklin County

Frog Pond resident Steve Trash opens Alabama Academy of Magic 

News

New restaurant opens in former Taylor’s location

News

City adds to property on Highway 24

Franklin County

Commission looks to hire assistant engineer

x