January state tax revenues down, but still close to target for fiscal year to date…

Idaho’s latest monthly general fund revenue report is out, and January state tax revenues came in 8.7 percent below the revised forecast, for a year-to-date shortfall of 1.4 percent. However, year-to-date receipts are still 4.1 percent higher than the same period in fiscal year 2013. Corporate income tax collections were significantly down for the month, partly because a few large payments pushed refunds for the month to twice the expected level. Individual income taxes for the month were below forecast by $14.9 million, or 8.8 percent, but year-to-date, they’re just 1.7 percent below forecast. Sales taxes came in 4.2 percent below the forecast for January, but are still close to on target for the year to date, at 0.7 percent below forecast. You can see the full report here .