Independent Fiscal Office, Revenue Release January Revenue Numbers
The Independent Fiscal Office and state Department of Revenue have released January
revenue reports. For the month of January, state General Fund collections totaled $2.7 billion and were $245.8 million lower than the IFO’s official estimates. The shortfall was largely the result of a temporary shift in personal income tax collections.
The Motor License Fund received $197.2 million in January, $10.5 million below estimate. The Motor License Fund includes liquid fuels taxes and other license, fine, and fee revenues. Motor License collections for the fiscal year-to-date total $1.6 billion, 1% below estimate.
Click here for the Independent Fiscal Office report. View the state Department of Revenue press release here.