WYMT | Eastern KY | News, Weather, Sports

General fund receipts down slightly

FRANKFORT, Ky. (AP) - State Budget Director Mary Lassiter is
reporting a 2.8 percent decline in General Fund receipts for
November, largely due to a drop in individual income tax and
property tax collections.
Total revenue for the month was just short of $729 million,
compared to about $750 in November 2010.
Lassiter said revenue from individual income taxes fell 5.5
percent in November while property tax collections declined 5.9
percent.
Meanwhile, the state saw slight increases in receipts from the
sales tax, coal severance tax, corporate income tax and the
cigarette tax.
Road Fund receipts increased by 5.7 percent to $123.5 million
for the month with revenue rolling in from the state's motor fuels
tax.

(Copyright 2011 by The Associated Press. All Rights Reserved.)


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