Connect with us

The Center Square

Mississippi’s March tax revenues exceeded pre-session estimates | Mississippi

Published

on

www.thecentersquare.com – By Steve Wilson | The Center Square – 2024-04-19 10:07:00

(The Center Square) — Tax revenues for March in Mississippi were up nearly 17% over the pre-session estimate, as an additional $87 million was collected.

The report by the Legislative Budget Office showed that tax revenues for the fiscal year, which will end June 30, were up 3.51% compared with estimates, adding $178.9 million in revenue to the state’s balance sheet and 0.03% above the collections at this point last year. The fiscal 2024 estimate is $7.52 billion. 



TCS - March Fiscal 2024 Mississippi graph

Ten-year historical total revenue collections and by tax type graphs issued by the Mississippi Legislative Budget Office. 




As for the year to date, sales tax revenues (nearly $2.1 billion) were up 3.4%, gaining an additional $68.9 million over the year before, when $2.03 billion was collected. 

Use of e-commerce in Mississippi continues to grow, as revenues from the state’s 7% use tax on all out-of-state sales grew 3.58% compared to the same time last year. In fiscal 2023, those revenues were $293.9 million, compared to $304.4 million this year, an increase of $10.5 million.

With recent income tax cuts passed by lawmakers, the state’s personal income revenues continue to plummet, down 10.07% compared to the year before. The state took in $1.65 billion in 2023 compared to $1.49 billion this year, a reduction of $166.6 million.

Corporate income tax collections were also down compared to the same period last year, falling 5.01%. In fiscal 2023, the state collected $569.5 million compared to $540.9 million this year, a decrease of $28.5 million.

Tobacco and beer taxes and revenue from the state’s distribution of wine and liquor were also down slightly (0.59%) compared to the same period last year. Last year, the state collected $194.7 million while collecting $193.6 million this year, a decrease of $1.14 million. 

Gaming tax revenues were also down by 5.3%. In fiscal 2023 up to March, the state collected $121.6 million, compared to $115.2 million, a drop of $6.44 million.

Tax revenue from the state’s medical marijuana program also took a plunge, down 13.23% compared to the year before. In fiscal 2023, the program took in $7.43 million compared to $6.44 million this year, a decrease of $982,868.

Read More

The post Mississippi’s March tax revenues exceeded pre-session estimates | Mississippi appeared first on www.thecentersquare.com

News from the South - Georgia News Feed

Staffing a challenge for Georgia’s prisons, commissioner says | Georgia

Published

on

www.thecentersquare.com – By Kim Jarrett | The Center Square – 2024-11-14 10:00:00

SUMMARY: Georgia’s prison system faces significant challenges in hiring and retaining employees, as stated by Department of Corrections Commissioner Tyrone Oliver. Although there are many applicants, 80% fail to complete the application process due to issues like no-shows and poor interviews. Georgia’s salaries lag behind neighboring states, prompting discussions about potential salary increases in the context of a $1.5 billion budget. Currently, prisons are operating at 93% capacity, with a recidivism rate of over 26%, which drops to 13.64% for inmates completing vocational programs. An assessment of the system is due in December, with further committee meetings planned.

Read the full article

The post Staffing a challenge for Georgia’s prisons, commissioner says | Georgia appeared first on www.thecentersquare.com

Continue Reading

News from the South - Texas News Feed

Texas officers apprehend human smugglers, rescue unaccompanied children | Texas

Published

on

www.thecentersquare.com – By Bethany Blankley | The Center Square contributor – 2024-11-14 09:56:00

SUMMARY: Texas DPS troopers are actively apprehending human smugglers and rescuing unaccompanied minors along the border through Operation Lone Star. Recent arrests included a smuggler leading a vehicle chase, multiple apprehensions of Mexican nationals, and discovery of individuals hiding in vehicle gas tanks. Notably, a TikTok video helped locate a coyote guiding migrants. Troopers stopped a group of 114 illegal crossers, including 13 minors, while efforts have led to over 900 rescues of unaccompanied children since Biden took office. The operation has resulted in over 525,800 illegal border crossers apprehended and a significant decrease in illegal crossings by 51%.

Read the full article

The post Texas officers apprehend human smugglers, rescue unaccompanied children | Texas appeared first on www.thecentersquare.com

Continue Reading

News from the South - Louisiana News Feed

Louisiana Congressional seats cost less in 2024 election cycle | Louisiana

Published

on

www.thecentersquare.com – By Jacob Mathews | The Center Square – 2024-11-14 07:00:00

SUMMARY: In Louisiana’s recent congressional elections, five incumbents faced poorly-funded opponents, leading to a decline in average campaign expenditures. The Federal Election Commission tracks financial activity from January 1 until mid-October. Incumbent U.S. Rep. Steve Scalise received $13.5 million and spent $14.3 million, lower than previous cycles. Rep. Troy Carter raised $1.8 million and spent $1.4 million, also down from 2022. U.S. Rep. Clay Higgins maintained stable spending patterns, while House Speaker Mike Johnson’s financial activity saw a significant boost, raising $17.4 million. Voter turnout was notably down in 2024, reflecting a broader trend alongside decreased campaign spending.

Read the full article

The post Louisiana Congressional seats cost less in 2024 election cycle | Louisiana appeared first on www.thecentersquare.com

Continue Reading

Trending