August Net Available General Revenues total $387.8 million, $18.7 million or 5.1 percent above last year and $5.7 million or 1.5 percent above forecast.
August results were boosted by one-time Sales tax audit payments and better than expected Corporate Income tax collections. Weakness in Individual Income tax partially offset these increases. Additional reporting periods should determine whether this
weakness is part of a trend or a temporary payroll timing issue.
Among smaller revenue sources, tobacco and gaming results also exceeded forecast.
August Sales and Use Tax Collections: August collections total $194.5 million, an increase of $16.5 million or 9.3 percent from last year. Collections were also above monthly forecast levels by $7.5 million or 4.0 percent.
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