State revenues plunge
- May 13, 2009
April tax revenue fell 21.3 percent over last year, according to the Richmond Times-Dispatch.
All major revenue sources were down, including a 10 percent drop in sales collections over last April. In addition, there was an 11 percent increase in tax refunds in April.
For the year so far, total revenue is down 8.8 percent over last year. The current budget is based on a 7.3 percent drop.
Sales tax collections were down 10 percent from last April. (Richmond Times-Dispatch)