Salt Lake Tribune
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Tax collections up
This is an archived article that was published on sltrib.com in 2005, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

Utah has entered "a major economic expansion" fueled by job growth, new construction and a growing surplus, according to Utah Tax Commission chief economist Doug Macdonald. Tax collections exceeded expectations by $91.1 million in the first four months of the fiscal year that began July 1. The surplus has increased by more than $27 million in the past month alone. This increase is due mostly to an 18 percent rise in payroll tax collections, a strong indication of job growth. Sales tax collections also were up by 14 percent. And volatile corporate income tax collections are 72 percent higher than projected. - Matt Canham

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