The state’s economists are cautious about the June tax collection report released this morning. But given the tightly balanced state budget, any collections report that is up is good news.
The state’s economists are cautious about the June tax collection report released this morning. But given the tightly balanced state budget, any collections report that is up is good news.
Today’s report shows that actual collections are up $66.5 million higher than expected based on the forecast. That’s 5.5 percent higher than the forecast). Of that, $45 million is so-called Revenue Act which contain the state’s largest taxes.
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The final piece in the state budget puzzle falls into place today when the state economist, Steve Lerch, releases his revenue forecast. Most observers expect a reduction from the quarterly estimate made in November.
Early this year when the state put its network of liquor stores on the auction block, many small-business people saw it as their path to prosperity. Now, six months after liquor sales were privatized, many of those once-eager bidders, who collectively paid the state more than $31 million for the rights to the state’s former stores, have discovered their adventures in retailing are a road to ruination.
Traditional retailers and cash-strapped states face a tough sell in the House as they lobby Congress to limit tax-free shopping on the Internet.
For many Pierce County residents, another year of sliding home values caused property tax bills to decline this year.
Traditional retailers and cash-strapped states face a tough sell in the House as they lobby Congress to limit tax-free shopping on the Internet.
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