Wed. Dec 4th, 2024
Net general revenue collections across the state grew by 18% in February to $830.3 million compared to $703.5 million in February of 2023.
That’s according to figures released by State Budget Director Dan Haug who also reports that net general revenue for the year stands at $8.42 billion…or 1.3% ahead of last year at the same time.
Sales and use tax collections, corporate income and corporate franchise tax collections and all other collections showed increases while individual income tax collections and refunds showed a mixed bag of increases and decreases compared to the month and year-to-date.
Full Report:
State Budget Director Dan Haug announced today that net general revenue collections for February 2024 grew 18.0 percent compared to those for February 2023, from $703.5 million last year to $830.3 million this year.
Net general revenue collections for 2024 fiscal year-to-date increased 1.3 percent compared to February 2023, from $8.31 billion last year to $8.42 billion this year.
*Reported refunds are artificially low due to a processing error that occurred in January and corrected in February.
Pass-Through Entity tax collections were previously reported within Individual Income, which makes growth in Individual Income tax collections appear artificially low.
The figures included in the monthly general revenue report represent a snapshot in time and can vary widely based on a multitude of factors.
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