State Tax Collections Up
Montgomery, AL – Alabama's economy is showing signs of improvement.
State tax collections have improved for three consecutive months, even as state officials continue to project another major budget shortfall next year. The state Revenue Department reported yesterday that tax collections for December rose ten-point-three percent over the same month a year ago -- from 467 (M) million to 515 (M) million dollars. Gains of 10-point-2 percent in October and 8 percent for November were also reported.
That translates into a 130 million dollar increase in tax collections over the same three months last year.
The figures come as Governor Riley prepares to make his budget recommendations to the Legislature next month.