April was a good month for the state’s general fund in terms of tax collections, which are $71.3 million above the most recent revenue forecast and $81.4 million above collections for the same period last year. State Budget Agency Director Christopher Atkins credits an 11-percent increase in individual income tax collections, which are also up significantly from last year and are running 3.7 percent ahead of the forecast amount.
Sales tax collections for April were up slightly over last year but missed the forecast mark by .05 percent. They’ve increased since last year but are still less than one-percent below the forecast amount. Corporate income tax collections missed the mark significantly for April, coming in at 11.4 percent below forecast for the month. Year-to-date they’re half-a-percent below forecast.
