The latest tax collection report released by Gov. Jeff Colyer’s office shows that revenue exceeded expectations.
Tax revenue for the month of October was up 2.14 percent from the previous year, an increase of $10.71 million. That exceeded the state’s expectations for the month by $6.99 million.
Fiscal year 2019 tax revenue for the state totals $2.2 billion. That’s $105.6 million more than was estimated to be collected. That also exceeds fiscal year 2018 tax collections by more than $183 million.
Individual income taxes brought in $242.29 million in the month of October, $12.88 million more than the previous fiscal year.
But sales tax revenue isn’t as encouraging. Collected sales tax fell short of last year’s by $3.88 million, totaling just over $194 million.
