Home | May 2015 Fiscal Highlights
June 24, 2015
Joint Legislative Budget Committee
The JLBC Staff reports monthly to the Legislature on the status of General Fund revenue collections and other fiscal issues. See the full report here. Among the key points of the document:
- May General Fund collections were $649.3 million, which was (0.2)% below May 2014. May collections were $23.8 million above the enacted budget forecast.
- Sales Tax collections of $345.8 million were 2.6% above May of last year and $(1.9) million below the forecast for the month. Year to date, collections have increased by 4.0% and are $23.8 million above forecast.
- Individual Income Tax net revenues were $237.2 million in May, which was (11.2)% less than the prior year. Collections were $(11.2) million below the forecast for the month.
- Corporate Income Tax net collections were $63.7 million in May, which was 122.8% greater than May 2014. Collections for the month were $50.7 million above the enacted forecast.