Alabama’s tax collections nearly flat in new year
Alabama’s tax collections are nearly flat through the first two months of the fiscal year.
The state Revenue Department reports collecting $1.3 billion in taxes in October and November. That’s down four-tenths of 1 percent from the same two months last year.
State Revenue Commissioner Tim Russell says he’s pleased that Alabama’s tax revenue is holding steady during tough economic times. He says it’s a result of Alabama recruiting better-paying jobs in recent years.
The Revenue Department reported that individual income tax collections were up for October and November, but corporate income taxes and sales taxes were down.