{"id":2694,"date":"2011-12-07T13:01:26","date_gmt":"2011-12-07T20:01:26","guid":{"rendered":"http:\/\/stateimpact.npr.org\/idaho\/?p=2694"},"modified":"2011-12-07T13:01:26","modified_gmt":"2011-12-07T20:01:26","slug":"corporate-income-and-sales-tax-collections-lower-than-expected-in-november","status":"publish","type":"post","link":"https:\/\/stateimpact.npr.org\/idaho\/2011\/12\/07\/corporate-income-and-sales-tax-collections-lower-than-expected-in-november\/","title":{"rendered":"Corporate, Income and Sales Tax Collections Lower Than Expected in November"},"content":{"rendered":"<div id=\"attachment_2695\"  class=\"wp-caption module image right\" style=\"max-width: 272px;\"><a class=\"fancybox\" title=\"\" href=\"http:\/\/stateimpact.npr.org\/idaho\/files\/2011\/12\/TaxButton_PeteGardner_gett.jpg\" rel=\"\"><img decoding=\"async\" loading=\"lazy\" class=\"size-medium wp-image-2695\" title=\"TaxButton_PeteGardner_gett\" src=\"http:\/\/stateimpact.npr.org\/idaho\/files\/2011\/12\/TaxButton_PeteGardner_gett-300x330.jpg\" alt=\"\" width=\"272\" height=\"300\" srcset=\"https:\/\/stateimpact.npr.org\/idaho\/files\/2011\/12\/TaxButton_PeteGardner_gett-300x330.jpg 300w, https:\/\/stateimpact.npr.org\/idaho\/files\/2011\/12\/TaxButton_PeteGardner_gett-220x242.jpg 220w, https:\/\/stateimpact.npr.org\/idaho\/files\/2011\/12\/TaxButton_PeteGardner_gett.jpg 393w\" sizes=\"(max-width: 272px) 100vw, 272px\" \/><\/a><p class=\"wp-media-credit\">Pete Gardner \/ Getty Images<\/p><p class=\"wp-caption-text\"> <\/p><\/div>\n<p>The Division of Financial Management today <a href=\"http:\/\/dfm.idaho.gov\/Publications\/EAB\/GFRR\/GFRR2012\/GFRevenueReport_December2011.pdf\" target=\"_blank\">reported<\/a> Idaho&#8217;s main bank account was $5.4 million below November&#8217;s forecast.\u00a0 DFM attributes the monthly shortage to weak individual income taxes and sales taxes.\u00a0 Idaho&#8217;s sales tax collections have missed projected targets every month this fiscal year.<\/p>\n<blockquote><p>&#8220;This month\u2019s performance not only missed its forecast, but it was 4.1% lower than it was in November 2010. On a fiscal year-to-date basis, the sales tax trails its forecast by $18.9 million. This category\u2019s recent string of sub-par showings has raised concerns whether the sales tax will be able to recover enough to meet its targets during the important holiday shopping season.&#8221;<\/p><\/blockquote>\n<p><a title=\"What You Should Know About the Division of Financial Management\" href=\"http:\/\/stateimpact.npr.org\/idaho\/topic\/division-of-financial-management\/\" target=\"_blank\">The Division of Financial Management<\/a> reports November&#8217;s corporate income taxes came in below expectations for the first time in three months.<\/p>\n<blockquote><p>&#8220;November is traditionally a month of large corporate income tax refunds, but actual payouts were even larger than expected\u2014$5.0 million instead of $4.6 million. But refunds were not the sole reason for the corporate income tax\u2019s negative showing in November. Filing collections were about $0.6 million below its forecast, $1.9 million versus $2.4 million.\u00a0 Adding to this month\u2019s shortfall was the nearly $0.1-million gap between actual and forecasted estimated payments. Despite this month\u2019s retreat, the fiscal year-to-date corporate income tax exceeds its forecast by $1.5 million.&#8221;<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The Division of Financial Management today reported Idaho&#8217;s main bank account was $5.4 million below November&#8217;s forecast.\u00a0 DFM attributes the monthly shortage to weak individual income taxes and sales taxes.\u00a0 Idaho&#8217;s sales tax collections have missed projected targets every month this fiscal year. &#8220;This month\u2019s performance not only missed its forecast, but it was 4.1% [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":2695,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[12],"tags":[55,94],"acf":[],"_links":{"self":[{"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/posts\/2694"}],"collection":[{"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/comments?post=2694"}],"version-history":[{"count":1,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/posts\/2694\/revisions"}],"predecessor-version":[{"id":2697,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/posts\/2694\/revisions\/2697"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/media\/2695"}],"wp:attachment":[{"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/media?parent=2694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/categories?post=2694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/tags?post=2694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}