Here’s the chart from the state Division of Financial Management on the April state tax revenues, though, as the chart notes, it’s “incomplete preliminary data.” It shows that individual income tax in April came in $47 million below projections, and corporate income tax $11 million below, while sales taxes were $2.6 million above projections and product taxes and miscellaneous revenues were right on projections. That means an overall shortfall, compared to projections, of $55.5 million for April, due in part to higher-than-expected income tax refunds; but what that means overall for the state, compared to already-set budgets, is a $13.5 million deficit heading into the final two months of fiscal 2010. Gov. Butch Otter says he has the tools, including reserves, to make that up and doesn’t plan to call a special session of the Legislature.
Betsy Z. Russell covers Idaho news from The Spokesman-Review's bureau in Boise.
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