State Sales Tax Revenues Up 3.9% Compared To A Year Ago
by: Ed Mayberry, May 8, 2013 11:05:00 am
R.J. DeSilva with the Comptroller's Office says business spending and consumer spending both contributed to the growth.
"Certainly business spending has helped in the manufacturing sector and construction, for example. Consumer spending — we saw it again in restaurant sales, for example. So you see a combination of consumer and business spending contributing to the growth that we're seeing in sales tax revenue."
Sales tax collections were up in a range of sectors.
"So we're seeing what we've seeing for several years now, in terms of growth and sales tax revenue. Certainly the rate of growth is moderate compared to the double-digit numbers we had last year, for example. But the growth is still happening here. We've had sales tax revenue growing for 37 straight months now."
The sales tax figures represent monthly sales made in March, as well as January, February and March sales by businesses that report tax quarterly. The Comptroller's Office will send cities, counties, transit systems and special purpose taxing districts their May local sales tax allocations totaling $668.5 million — up 5.6 percent compared to May 2012.