State Coffers Larger Than Projected

LANSING, MI (WHTC) – A report by the state Senate Fiscal Agency showed that combined tax collections to Michigan’s General Fund and School Aid Fund were 1.9 billion dollars last month, a nearly six-percent increase from a year ago, and 3.8 million more than projected. Analysts say that this came mostly through higher individual income tax withholding payments, which more than offset lower revenue from the sales tax and the Corporate Income Tax, along with more individual income tax refunds.