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Ray Of Sunshine: State Revenue For VA Rises In March

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By Jonathan Wilson

In Virginia, revenue collections were up in March, marking a modest break from months of dismal news about the state's bleak finances.

Virginia's monthly revenue report shows general fund revenues increased by 3 percent last month over March of 2009. Taxes withheld from paychecks and salaries increased more than 18 percent for the month.

That's important because income tax withholding accounts for nearly two-thirds of all general tax collections.

The state's finance secretary says the state had one additional day to make bank deposits compared with March of last year. That may account for part of the change. Other trends appear dimmer in Virginia.

The state Employment Commission revised its employment numbers, saying that Virginia actually lost 126,000 jobs in 2009, not the 90,000 it had reported earlier.

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