Idaho’s general fund tax revenue in April – the biggest revenue month of the year – came in 13.2 percent ahead of forecasts, with collections surging $56.4 million above the expected level, the largest margin by far of any month this fiscal year. That puts the state $79.05 million ahead for the fiscal year, for an overall year-to-date surplus over forecasts of 3.5 percent, according to the state Division of Financial Management.
You can read the full April General Fund Revenue Report here. April marked the second month of this fiscal year in which all revenue categories beat their respective targets, with individual income tax coming in the strongest, at $35 million over the forecast. Corporate income taxes were $14.4 million ahead of forecasts for the month, while sales taxes were closest to projections, at $3.5 million over. For the fiscal year to date, Idaho has collected $2.32 billion in general fund tax revenues, well above both the $2.24 billion forecast and last year’s mark at the same time of $2.17 billion.