Independent Fiscal Office, Revenue Release Positive February Revenue Numbers
The Independent Fiscal Office and state Department of Revenue have released February 2021
revenue reports. State General Fund collections totaled $2.7 billion and were $509.7 million above the IFO’s revised estimates. The overage was the result of a temporary shift in personal income tax collections. Collection for the fiscal-year-to-date are higher than expected ($267.5 million, or 1.1% above estimate.)
The Motor License Fund received $199.8 million in February, $22.9 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 $1.8 billion, are only 2.1% below estimate.
Click here for the Independent Fiscal Office report. View the state Department of Revenue press release here.