Arrow-right Camera

Eye On Boise

State tax revenues beat forecasts for fourth straight month

March was the fourth straight month that state tax revenues came in ahead of forecast, running $3.9 million ahead, according to the latest figures. For the fiscal year to date, that puts the state $36.6 million ahead of projections. Among the strong spots: Sales taxes and individual income taxes. That brings state tax revenue growth to date for the fiscal year to 5.5 percent, well above the predicted 3.3 percent. You can read the state Division of Financial Management's monthly General Fund Revenue Report here, and the legislative budget office's General Fund Budget Monitor here.

The legislative monitor notes that that latest figures push Idaho tax revenue to $91.7 million more than last year at this time. The result, given HB 702, which passed this year and transfers any additional surpluses at the end of fiscal year 2012 into the Budget Stabilization Fund, will be larger deposits into that reserve account, up to nearly $60 million.

You must be logged in to post comments. Please log in here or click the comment box below for options.

comments powered by Disqus
« Back to Eye On Boise
Betsy Z. Russell
Betsy Z. Russell joined The Spokesman-Review in 1991. She currently is a reporter in the Boise Bureau covering Idaho state government and politics, and other news from Idaho's state capital.

Follow Betsy online: