/ Modified mar 21, 2017 11:32 a.m.

State Tax Revenues Show Minor Gains in February

General fund runs 2% ahead of budget projection; highway user revenues down 2.7%.

Arizona Taxes, Economy - Stock Spotlight
AZPM Staff

Arizona tax revenues grew slightly in February on the strength of assessments on insurance premiums and property, the Joint Legislative Budget Committee report showed Monday.

Total general fund revenues for the month were $406.6 million, 2.0 percent ahead of the budget projection and 2.2 percent ahead of February a year ago.

Corporate income taxes continued to lag as part of the state's financial picture, coming in $4.8 million below the budget projection. That brought the corporate tax revenue total for the first eight months of the fiscal year to $33.3 million below the budget projection, or 16.1 percent.

The legislative report said part of the issue is timing, with February a volatile month in which to view revenues because its the start of tax return season.

The Highway User Revenue Fund, made up of revenues from the state gasoline tax and vehicle and driver's license fees, was $3.2 million below the budget projection, or 2.7 percent. The fund is used to finance state and local street and road peojects.

By posting comments, you agree to our
AZPM encourages comments, but comments that contain profanity, unrelated information, threats, libel, defamatory statements, obscenities, pornography or that violate the law are not allowed. Comments that promote commercial products or services are not allowed. Comments in violation of this policy will be removed. Continued posting of comments that violate this policy will result in the commenter being banned from the site.

By submitting your comments, you hereby give AZPM the right to post your comments and potentially use them in any other form of media operated by this institution.
Arizona Public Media broadcast stations are licensed to the Arizona Board of Regents. Arizona Public Media and AZPM are registered trademarks of the Arizona Board of Regents.
The University of Arizona