Mississippi tax collections decline at start of budget year

Mississippi tax collections decline at start of budget year

JACKSON, MS (AP) - An expert says Mississippi tax collections were slightly worse during the first three months of the current budget year than they were the same time last year.

This appears to contradict earlier reports from the Legislative Budget Office and the Department of Revenue, which showed tax collections were 3.5 percent higher this July through September than they were a year ago.

State economist Darrin Webb told lawmakers Wednesday that collections were actually six-tenths of 1 percent lower.

Webb said the Department of Revenue numbers for this year are "inflated" because they included cash from unclaimed property and money from a tax refund account. He also said money from insurance premiums appeared in the first quarter of this year, but should have been counted when the last budget year was ending.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.