State tax revenues exceed forecasts in May, for 7th straight month

Idaho state tax revenues came in above forecasts again in May, running 5.4 percent ahead. That puts year-to-date general fund collections 9.5 percent above last year’s level and 3.8 percent ahead of forecasts. Individual income taxes led the gains, coming in 22.7 percent ahead of forecasts; corporate income taxes were well below forecasts due to higher than expected refunds during May, while sales taxes were 1 percent below forecasts. It was the seventh straight month the state general fund tax revenues exceeded forecasts. You can see the full monthly Idaho General Fund Revenue Report here .