Monday, December 14, 2009

State sales tax down

Posted By on Mon, Dec 14, 2009 at 5:58 AM

No matter what you hear about the recession ending and the economy turning around, the facts continue to suggest differently.

Colorado's sales tax revenue still is sinking, with the state Department of Revenue reporting that collections for November are down by a little more than 9 percent, or about $15 million, from November 2008. The total collected came tp $168.4 million.

A story in the Denver Post today says another update from the Legislature's economic staff is coming on Friday, and it could mean another indication that lawmakers might have to chop more out of the state's budgets for 2010 and 2011. Already, the Legislature has been looking at having to cover for a $560 million shortfall in this fiscal year (through June 30), and perhaps double that to more than $1 billion for the 2011 fiscal year.

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