Posted: Oct 11, 2010 11:15 AM by Russell Jones
State revenues are down eight percent as compared to this time last year, according to the state treasury department.
They report that total state revenues from July to September are down $140 million for a total collection of $1.707 billion. It’s another drop for the state, which had recorded a 15-percent, $320 million drop at the same time in 2008.
General sales tax and fuel taxes increased over last year by two and three percent, but all other categories showed a decrease. The most significant drop was in corporation and franchise taxes, which were down $91 million dollars for a decrease of 67-percent.
You can view the entire report at the Louisiana Department of Treasury’s website.