Unlike most months this year the October revenue report was under the sine die estimate by about $31.7 million. Reports are still up for the year though by $13.7 million or .81%.
Collections through October 2018 are also higher than where last years collections were by 1.26% or $21.4 million.
Corporate income tax was down over 5%, Insurance Premium tax down over 10% since this time last year. But, Use Tax was up nearly 20% thanks to legislation passed by lawmakers during the special session.
October FY 2019 General Fund collections were $703,683 or 0.15% below October FY 2018 actual collections. Sales tax collections for the month of October were above the prior year by $1.1M. Individual income tax collections for the month of October were below the prior year by $6.5M. Corporate income tax collections for the month of October were below the prior year by $1.0M.
You can find the full report below:
FY 2019_ Revenue Report_10-31-2018 by yallpolitics on Scribd
Sarah Ulmer
