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Illinois Officials Expect Sales Tax Revenue to Pick Up in 2011
State sales tax money is coming in a little stronger than expected.

The legislature's Commission on Government Forecasting and Accountability reports that it's updating its sales tax projections, with the total for the fiscal year that ends on June 30 estimated to hit $6.2 billion, down about 7.5 percent, rather than the previously anticipated 8.5 percent. That won't help the state's current financial pickle, however, because the personal income tax is down a little.

Jim Muschinske, revenue manager at the commission, expects a transition year next year, in which sales tax money grows by 1.6 percent as people start buying more toward the holidays. That would mean the state would take in about $6.3 billion from the sales tax next fiscal year.

Sales tax revenue is the second largest source of state government dollars.

(Illinois Radio Network)
06 19 10 by Newsroom
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