STATE

State revenues drop $395 million year-to-date

Staff Writer
Gonzales Weekly Citizen

The November 2010 Net Receipts Report shows that total state revenues for 2010-2011 to-date (July - November) are $2.866 billion, for a decrease of $395 million compared to last year, according to a release from the Louisiana Department of the Treasury.

Total revenues reported in November were down 12 percent compared to last year, and total revenues reported in October were down 6 percent compared to last year.  Total revenues this time last year were $3.261 billion, which was $236 million less than the prior year for a decrease of 7 percent.

General sales tax cash receipts for the current fiscal year to-date are $1.076 billion, for an increase of $16 million or 2 percent compared to last year.  General sales tax cash receipts this time last year were $1.06 billion, which was $183 million less than the prior year for a decrease of 15 percent.

Individual income tax cash receipts for FY 2010-2011 to-date are $1.048 billion, for a decrease of $70 million or 6 percent compared to last year.  Individual income tax cash receipts this time last year were $1.118 billion, which was $3 million more than the prior year.

General severance tax cash receipts for FY 2010-2011 to-date are $305 million, for a decrease of $18 million or 6 percent compared to last year.  General severance tax cash receipts this time last year were $323 million, which was $208 million less than the prior year for a decrease of 39 percent.

Corporation and franchise tax cash receipts for FY 2010-2011 to-date are $72 million, for a decrease of $337 million or 82 percent compared to last year.  Corporation and franchise tax cash receipts this time last year were $409 million, which was $178 million more than the prior year for an increase of 77 percent.

Gasoline and special fuels tax cash receipts for FY 2010-2011 to-date are $258 million, for an increase of $10 million or 4 percent compared to last year.  Gasoline and special fuels tax cash receipts this time last year were $248 million, which was $11 million less than the prior year for a decrease of 4 percent.

Miscellaneous taxes cash receipts for FY 2010-2011 to-date are $106 million, for an increase of $3 million or 3 percent compared to last year.  Miscellaneous taxes cash receipts this time last year were $103 million, which was $15 million less than the prior year for a decrease of 13 percent.

To view the report in its entirety, visit www.latreasury.com and click “Net Receipts Statement for the Month of November 2010.”