An increase in tobacco and corporate tax collections early in 2010 has helped Wisconsin stay out of an even bigger budget hole.
New figures from the Wisconsin Department of Revenue show that overall tax collections continue to fall because of the recession, although there are some positive trends.
Income taxes, the largest single source of revenue for the state, fell 8.7 percent on an adjusted basis for January and February 2010 compared to the same two months in 2009. The state is reporting $878 million in income tax collections so far in 2010 vs. $962 million in 2009.
Sales tax, the second largest source of revenue, fell 5.3 percent in the first two months of 2010 to $648 million vs. $684 million in 2009.
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