The Independent Fiscal Office and State Department of Revenue have released the revenue reports for September. The state collected $4.06 billion in General Fund revenues for September, 3.9% below the IFO’s official estimate. Personal income tax quarterly collections were 5.1% below estimate and 21% less than September 2022.
The Motor License Fund received $257.6 million in September, $16.9 million, below estimate, which includes liquid fuels taxes and other license, fine, and fee revenues. Year to date, the Motor License Fund is at $393.7 million, 6.1% below estimate. Click here for the IFO report and here for Revenue’s press release.