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State Budget Director Dan Haug announced that 2023 fiscal year-to-date net general revenue collections have gone up by 38.3 percent compared to July, of last year.

On Tuesday, he stated that collections have increased from 701.3 million dollars to 970 million dollars.

Individual income tax collections have increased 42.3 percent over last year.

Sales and use tax collections have gone up by 16.9 percent for the year.

Corporate Income and corporate franchise tax collections have increased 12.1 percent for the year.

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State Budget Director Dan Haug announced today that 2023 fiscal year-to-date net general revenue collections increased 38.3 percent compared to July 2021, from $701.3 million last year to $970.3 million this year.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections

  • Increased 42.3 percent for the year, from $480.5 million last year to $684.0 million this year.

Sales and use tax collections

  • Increased 16.9 percent for the year, from $212.5 million last year to $248.5 million this year.

Corporate income and corporate franchise tax collections

  • Increased 12.1 percent for the year, from $46.0 million last year to $51.5 million this year.

All other collections

  • Increased 96.1 percent for the year, from $19.5 million last year to $38.3 million this year.

Refunds

  • Decreased 9.0 percent for the year, from $57.2 million last year to $52.0 million this year.

The figures included in the monthly general revenue report represent a snapshot in time and can vary widely based on a multitude of factors.