State Budget Director Dan Haug announced today that net general revenue collections for February 2020 increased 22.2 percent compared to those for February 2019, from $561.0 million last year to $685.4 million this year
Net general revenue for collections for 2020 fiscal year-to-date increased 7.2 percent compared to February 2019, from $5.67 billion last year to $6.08 billion this year.
Advertisement
GROSS COLLECTIONS BY TAX TYPE
Individual income tax collections
- Increased 8.5 percent for the year, from $4.30 billion last year to $4.67 billion this year.
- Increased 23.4 percent for the month.
Sales and use tax collections
- Increased 2.2 percent for the year, from $1.52 billion last year to $1.55 billion this year.
- Increased 8.9 percent for the month.
Corporate income and corporate franchise tax collections
- Increased 14.6 percent for the year, from $259.8 million last year to $297.7 million this year.
- Decreased 19.3 percent for the month.
All other collections
- Increased 4.5 percent for the year, from $253.2 million last year to $264.7 million this year.
- Increased 12.6 percent for the month.
Refunds
- Increased 6.2 percent for the year, from $664.8 million last year to $706.3 million this year.
- Increased 11.5 percent for the month.
The figures included in the monthly general revenue report represent a snapshot in time and can vary widely based on a multitude of factors.
Advertisement
