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State tax collections are up 2.7 percent through the first three months of the new fiscal year, the state Department of Taxation announced on Friday.
General-excise and use tax collections, the largest single source of state revenue, are up 8 percent, according to the department. Hotel-room tax collections are up 8.7 percent. Individual income tax collections are down 0.2 percent.
The state Council on Revenues has projected 3.5 percent growth for this fiscal year, which runs through June. The council downgraded the forecast in September from 5.5 percent growth, a move that will likely influence state budget preparations by the next governor and the state Legislature.
