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Tuesday, September 13, 2011

Md. Increase In Alcohol Tax Revenue In For July

ANNAPOLIS, Md. (AP) — Maryland raised roughly $6 million in added revenue in July from a 50 percent increase in the state’s sales tax on alcohol, a state official said Monday.

If the revenue raised in July turns out to be the monthly average, it would add up to about $72 million in extra state revenue a year. Initial estimates projected the tax would raise roughly $85 million a year.

But David Roose, director of the Maryland Bureau of Revenue Estimates, said it’s too hard to tell from the first month of a new tax how much will be raised on an annual basis.

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