Arizona’s state government is beginning its fiscal year on a positive note.
The legislative budget staff reports that tax collections in July totaled nearly $750 million.
That’s about $16 million above the July revenue forecast when the state enacted its current state budget last spring and 6 percent above revenue collected in July 2011.
The budget staff credits the increase to growth in both sales and individual income tax collections, thanks to gains in retail, contracting and employment.
