Mississippi tax collections improve for start of budget year

JACKSON, Miss. (AP) – Mississippi tax collections are looking better than they did this time last year.

The Legislative Budget Office released figures Friday showing tax collections for July and August – the first two months of the current budget year.

Overall collections are nearly $54 million higher than they were during the same two months a year ago. That is about an 8.1 percent increase.

The biggest increase was in individual income tax collections.

Corporate tax collections decreased, as expected, because tax cuts enacted by the Legislature are starting to take effect.

Sales tax collections are higher for the first two months of this year, compared to last year.

(Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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