Idaho state tax revenue beats forecasts for September

Idaho’s state tax revenues beat forecasts in September, driven by a month of strong individual income tax collections. The total revenue for the month of $248.1 million was 3.7 percent, or $8.8 million, over the forecast; individual income tax receipts, which had missed forecasts in both July and August, came in $12.5 million above the forecast for September. Sales taxes came in slightly ahead of forecasts, while corporate and miscellaneous taxes dipped below.

The strong month put the state’s year-to-date revenues back on track with forecasts, running 0.5 percent ahead. That means state tax revenues overall are running 5.7 percent ahead of last year; forecasts anticipated a 5.2 percent increase. You can read the full general fund revenue report here from the state Division of Financial Management.