Tax Collections Improve Slightly In Kentucky

There’s encouraging economic news coming out of Frankfort, where Kentucky tax collections continue to show positive gains.

State tax receipts last month were nearly $750 million, an almost four percent increase over November of last year. In the first five months of the fiscal year, General Fund receipts have risen five percent.

Individual income tax receipts were up last month, as were sales and use tax receipts, property tax collections, coal severance tax receipts and lottery collections.

Corporate income and cigarette tax collections were off last month. The growth rate needed for the final seven months of Fiscal 2011 is 3.7 percent.

Road Fund receipts also rose last month, by almost 22 percent. Year-to-date growth in the Road Fund is almost eight percent.

State budget director Mary Lassiter calls the collections “encouraging,” but says the economy remains very volatile.

Published by Tony McVeigh

Veteran broadcast journalist Tony McVeigh has been covering Kentucky politics since 1986, reporting for Clear Channel Communications before joining Kentucky Public Radio in 2004. His stories are aired by seven KPR affiliates, whose signals blanket the Commonwealth and parts of surrounding states. McVeigh began his broadcasting career at WRFC in Athens, Georgia, while earning a Bachelor of Arts in Journalism from the University of Georgia. He has extensive anchor/reporter experience, including stints with South Carolina Network and Georgia Radio News Service in Atlanta. In 2007 and 2008, McVeigh was named Best Radio Reporter in the Kentucky Associated Press Awards. He also picked up consecutive AP Awards for Best Political Coverage. McVeigh won four Kentucky AP Awards in 2009, six in 2010 - including Best Political Coverage and Best Hard News Feature - and three in 2011. His coverage of the 2007 Kentucky governor's race topped the Political Reporting category of the Society of Professional Journalists Green Eyeshade Awards of 2008. In 2009, McVeigh placed second in Courts and Law Reporting in the Atlanta-based competition for journalists in 11 Southern states. McVeigh is also the proud recipient of an Individual Liberty Award from the Kentucky Association of Criminal Defense Lawyers. The Brunswick, Georgia, native is a die-hard UGA football fan who enjoys photography, astronomy, live music, hiking Kentucky's Red River Gorge and exploring the state's beautiful back roads. McVeigh and his big, fat, black cat Simon, reside in Frankfort, KY.