Idaho’s March Tax Collections Beat Forecast By $4 Million

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Idaho state revenue collections are up for the fourth month in a row.

The Division of Financial Management reports March tax collections exceeded expectations by almost $4 million, even though a large number of tax refunds are going out the door this time of year.

That $4 million is 11 percent of the total revenue collected for the month of March.

The Division of Financial Management’s report indicates the economy is doing better than state analysts predicted.

“The major contributors to this month’s excess were the sales and individual income taxes. Sales tax collections of $75.5 million were $4.4 million ahead of the forecast of $71.1 million. The individual income tax topped its forecast by $3.4 million, $40.4 million versus $37.0 million.” – DFM

Corporate income tax collections fell just short of projections.

Division of Financial Management

Idaho general fund revenue estimates and actuals.