State Budget Director Dan Haug announced that net general revenue collections for February 2019 increased 17.9 percent compared to those for February 2018, from $475.7 million last year to $561.0 million this year
Net general revenue collections for 2019 fiscal year-to-date decreased 5.0 percent compared to February 2018, from $5.97 billion last year to $5.67 billion this year.
GROSS COLLECTIONS BY TAX TYPE
Individual income tax collections
- Decreased 8.8 percent for the year, from $4.72 billion last year to $4.30 billion this year.
- Remained flat for the month.
Sales and use tax collections
- Increased 3.8 percent for the year, from $1.46 billion last year to $1.52 billion this year.
- Increased 10.5 percent for the month.
Corporate income and corporate franchise tax collections
- Increased 5.5 percent for the year, from $246.2 million last year to $259.8 million this year.
- Increased 68.1 percent for the month.
All other collections
- Decreased 4.4 percent for the year, from $264.8 million last year to $253.2 million this year.
- Increased 73.7 percent for the month.
Refunds
- Decreased 8.5 percent for the year, from $726.7 million last year to $664.8 million this year.
- Decreased 18.6 percent for the month.
Director Haug also noted the General Revenue Fund borrowed $150 million from the Budget Reserve Fund for cash flow purposes. The funds will be repaid before the Constitutional deadline of May 15, 2019.
The figures included in the monthly general revenue report represent a snapshot in time and can vary widely based on a multitude of factors.
