State Revenues Dip Due to Extension of Income Tax Filing Deadline    

The Independent Fiscal Office (IFO) and state Department of Revenue have released April 2021 revenue reports. State General Fund collections totaled $3.96 billion and were $277 million below the IFO’s revised estimates. The shortfall was the result of lower than expected personal income tax collections due to the extension of the annual payment date to May 17, when the shortfall in collections is expected to be eliminated. Overall collections for the fiscal-year-to-date are higher than expected ($274.5 million, or .8% above estimate). 

The Motor License Fund received $283.2 million in April, $14.4 million above 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 $2.3 billion, 0.6% below estimate.     

Click herefor the Independent Fiscal Office report.  View the state Department of Revenue press release here.      

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