Revenue trends still good for state, Tupelo

By Daily Journal Staff

Mississippi officially slipped back into a recession in 2011, a new report revealed, but revenue collections so far in 2012 reflect better news.
State tax collections in May were 6.4 percent above the budgeted estimate, bringing revenue for the 2012 fiscal year that ends this month to 5.2 percent more than anticipated. Meanwhile, Tupelo is on track for a record year in collections of its 2 percent tax on hotel and restaurant sales, the Convention and Visitors Bureau reported. Its fiscal year ends Sept. 30.