Virginia tax collections last month increased by 17.9 percent over a year earlier, Gov. Bob McDonnell’s office said Wednesday.
Total revenue collections for the year have risen 5.8 percent over last year, slightly above the state’s 3.5 percent forecast.
The revenue growth was driven primarily by a 49 percent increase in individual final payments based on 2010 tax liabilities.
May marked the 14th month out of the last 15 in which incoming revenue exceeded the previous year. It was the sixth out of the last seven months in which year-over-year revenue growth exceeded 9 percent, officials said.
The state reported that collections from payroll withholding and sales tax slowed.
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