Aside from a one-time tax amnesty program, tax revenues in Virginia continued to lag in December, the Secretary of Finance reported today.
While total general fund revenue collections grew 5.5 percent the first growth in 16 months , they would have declined by 1.8 percent without the program that encouraged tax procrastinators to ante up without penalty, Secretary of Finance Richard D. Brown said.
The state is wrestling with a $4.2 billion budget deficit and the December numbers would appear to do little to help the situation.
Through the first six months of fiscal 2010, total revenues fell 4.4 percent, trailing the revised annual forecast of a 2.7 percent decline.
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