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State reports drop in government revenue in April

FRANKFORT, Ky. (AP) - Kentucky is reporting a decline in general
government revenue in April after several months of growth.

State Budget Director Mary Lassiter said Thursday the nearly 1
percent drop in revenue isn't a sign that the economy has taken a
step backward.

Lassiter said revenue from the sales tax and individual income
taxes remained strong, suggesting an expanding economy.

Collections from the corporate income tax dropped for the month,
as did revenue from the property tax, cigarette tax and coal
severance tax.

Meanwhile, revenues coming into the state's Road Fund grew by
more than 4 percent in April, driven largely by higher collections
from the fuel tax.

(Copyright 2012 by The Associated Press. All Rights Reserved.)


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