Idaho’s state tax revenue fell 5.6 percent below forecasts in October, a month after it swelled 6.4 percent ahead of forecasts in September. The result: Tax revenues are coming in just about as forecasted. The October revenues were down $12.8 million from the forecast; September’s were up nearly $16 million over the forecast. Year to date, Idaho has now collected just 0.2 percent less than was forecast for this point in the fiscal year.
Last month, Gov. Butch Otter hailed the strong September revenues as news that “validates our belief … that lowering taxes encourages more economic activity.” This month’s General Fund Revenue Report came out today just after 5 p.m.; Otter hasn’t yet commented on it. You can see the full report here.