Las Vegas Sun

April 19, 2014

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Sales tax revenue dips, but no budget cuts needed — for now

There's more grim economic news for Nevada's budget, though additional cuts won't be necessary right now.

February sales tax collections dropped 6.7 percent compared to the same month last year, according to figures released by the Department of Taxation Friday.

Compared to the projections developed last year by the state, the general fund is down $75 million for the current fiscal year, which ends June 30.

Gov. Jim Gibbons' budget cuts anticipated this lower revenue, said Andrew Clinger, the state's budget director.

"We are still right on target with our revenue forecast," Clinger said.

But additional budget cuts will be necessary unless the economy makes a dramatic turnaround in the next few months.

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