Tax collections slow in October

The state had a big slowdown in tax collections in October, seeing only a tiny uptick after months of strong growth.

The count was somewhat skewed by the fact that officials said they included one less day of collections than in October 2014.

But they are seeing a little bit of a slow down, nonetheless.

Excluding increases in the gas tax, collections rose only .3 percent in October as the income tax take, which had been strong, barely moved from October 2014 and net sales tax collections fell.

Including the gas tax hike, revenues rose 4.8 percent, lower than in previous months.

While income and sales tax collections give some sign of the state of the economy, officials typically don’t get too worried about a weak month or two. Until October, collections had been strong for several months.

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Credit: AP

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