State Revenues Down From May Of Last Year

State Budget Director Dan Haug announced Wednesday net general revenue collections for May 2019 decreased 5.7 percent compared to those for May 2018, from $729.5 million last year to $688.2 million this year.

Net general revenue collections for 2019 fiscal year-to-date increased 2.1 percent compared to May 2018, from $8.53 billion last year to $8.71 billion this year.

 

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections

  • Decreased 1.3 percent for the year, from $7.09 billion last year to $7.00 billion this year.
  • Decreased 14.5 percent for the month.

 

Sales and use tax collections

  • Increased 3.3 percent for the year, from $2.00 billion last year to $2.06 billion this year.
  • Increased 7.3 percent for the month.

 

Corporate income and corporate franchise tax collections

  • Increased 17.4 percent for the year, from $380.4 million last year to $446.6 million this year.
  • Decreased 52.2 percent for the month.

 

All other collections

  • Increased 0.2 percent for the year, from $432.4 million last year to $433.4 million this year.
  • Decreased 24.6 percent for the month.

 

Refunds

  • Decreased 9.9 percent for the year, from $1.36 billion last year to $1.23 billion this year.
  • Decreased 29.4 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.