Monthly revenue report released


Posted on: August 9th, 2016 by [email protected] No Comments

The monthly revenue report for July, along with commentary from State Budget Director Brian Bailey, was released yesterday. The report stated that State general fund revenues for July totaled $1,065.6 million, which is $7.4 million (0.7%) below estimate based on the December 17, 2015 forecast, but $23.8 million (2.3%) above revenue in July 2015. Sales tax collections totaled $640.4 million for July, which is $18.0 million (2.7%) below the monthly estimate, but $26.1 million (4.2%) above revenue in July 2015. Individual income tax collections totaled $350.7 million for July, which is $19.6 million (5.9%) above the monthly estimate and $1.2 million (0.3%) above revenue in July 2015. Corporate tax collections totaled $13.1 million for July, which is $10.9 million (45.3%) below the monthly estimate, but $2.3 million (20.9%) above revenue in July 2015.



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