By Tax collections for March show increase, says official
Montgomery, AL – - A state official says Alabama's tax
collections for education rose 1.9 percent in March from a year
earlier.
Acting state Finance Director Bill Newton said Thursday it's a
sign that the state economy has stopped shrinking.
The finance department says the trust fund collected $442
million in March, an increase of $8 million, or 1.9 percent from
March 2009.
The finance department also reported that revenues for the
General Fund totaled $634.3 million in October through March, a
drop of 20.5 percent from the same period a year earlier.
Last year, lawmakers transferred money to the General Fund that
had been reserved to pay potential refunds to companies disputing
past payments of business privilege taxes.