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 / Modified nov 22, 2016 7:15 a.m.

State Revenues Surpass Budget, Driven By Income Tax

A larger budget was put together in anticipation of an improving economy.
by Christopher Conover

AZ State Executive tower spotlight Arizona State Capitol Executive Tower
Adavyd

Arizona pulled in revenues totaling more than $33 million over the budget in October, the Joint Legislative Budget Committee has announced.

The largest driver of the increase was personal income tax. Last month, those figures recorded at 9 percent over what was forecast.

Sales tax revenue was up about 1 percent.

Legislative leaders and Gov. Doug Ducey set budgeted state spending for the fiscal year higher than at any point since the recession in 2008.

The larger budget was put together in anticipation of an improving economy and the need to restore education cuts.

MORE: Arizona, Government, Legislature, News, Taxes
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