Idaho’s state tax revenues in November came in below forecast for the first time this fiscal year, off by $7 million or 3 percent, but year-to-date collections remain $28.1 million ahead of forecasts, according to the state Division of Financial Management.
The monthly general fund revenues in November were $223.6 million, 0.2 percent below the previous November’s. For the fiscal year to date, revenues are 2.1 percent over forecasts and 7.8 percent higher than they were in November of 2015.
November is not one of the larger revenue months of the year. Both individual income taxes and sales taxes came in below forecasts, but corporate income taxes, at $2 million, were double the forecast, largely due to refunds running well behind what was expected. You can see the full monthly General Fund Revenue Report online here.