Sunday, October 9, 2011

Idaho Individual and Corporate Tax Revenues Up, Sales Tax Receipts Still Down

Posted By on Sun, Oct 9, 2011 at 10:38 AM

Idaho's latest financial report card includes some positive, but modest, news.

The Idaho Division of Financial Management said General Fund collections for September were $100,000 above forecast. Individual and corporate income tax receipts along with product taxes all surpassed expectations, but sales tax revenues were below forecast. The fiscal year-to-date General Fund receipts are more than $9 million below forecast.

Sales tax income has yet to meet any of its monthly targets for Fiscal Year 2012, through September.

Overall General Fund collections have topped $229 million for FY 2012, year-to-date, a 9.5-percent improvement over last year but 14.6 percent lower than FY 2010.

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