Tuesday, March 8, 2011

State Revenues $16 Million Ahead of Plan

Posted By on Tue, Mar 8, 2011 at 9:29 AM

There's a glimmer of optimism in Idaho's most recent report of general fund revenue.

The monthly survey indicated that income from individual income tax is nearly $45 million above projections. The lion's share of the surplus is expected to go back to Idahoans in the form of tax refunds, but state economists still project that Idaho is approximately $16 million ahead of plan year to date and $80 million ahead of where Idaho stood at this time last year.

More good news: corporate income tax revenues are nearly $10 million ahead of forecast. Read the full revenue report from Idaho's Division of Financial Management.

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