Mississippi revenues continue falling as a national recession deepens, but the state’s share of a federal stimulus plan is expected to offset recent budget cuts and prevent further trimming this fiscal year.
The most recent numbers from the State Tax Commission show collections for the month of February were closer to expectations than the previous month, but revenues are still below estimates.
The state collected $247.9 million for the general fund last month. That’s $9.7 million, or 3.79 percent, below estimates. It does not include revenue from other sources, such as fees collected by other agencies and interest on money in state accounts.
Tax collections have dropped significantly from the same time last year. The state collected $24.5 million, or 9 percent less, in February than it did during the same month in 2008.