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State revenue collections show improvements

10 months 1 week 3 days ago Tuesday, October 11 2016 Oct 11, 2016 October 11, 2016 11:16 AM October 11, 2016 in News
Source: WBRZ
Image via: Louisiana Department of Treasury

BATON ROUGE – September 2016 Net Receipts Report shows that total state revenues for 2016-2017 was $2.175 billion, a 25 percent increase compared to that time last year, according to the Louisiana Department of Treasury.

Sales tax collections increased to 35 percent compared to last year, along with individual income tax, gasoline and special fuels tax and miscellaneous tax collections that also improved.

A breakdown of the improvements are below:

- General sales tax cash receipts for the fiscal year of 2016-17 are $932 million, an increase of $244 million or 35 percent compared to last year.

- Individual income tax receipts for the fiscal year are $784 million for an increase of $7 million or one percent compared to last year.

- General severance tax cash receipts for the fiscal year are $103 million for a decrease of $39 million or 27 percent compared to last year.

- Corporation and franchise tax cash receipts for the fiscal year are $95 million for an increase of $189 million or 201 percent compared to last  year.

- Gasoline and special fuels tax cash receipts for the fiscal year are $160 million for an increase of $2 million or 1 percent compared to last year.

- Miscellaneous taxes cash receipts for the fiscal year are $101 million for an increase of $43 million or 74 percent compared to last year.

To view the report click here and then "Net Receipts Statement for the Month of September 2016."

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