State revenue collections are showing a mixed picture. While they are coming in under estimates, they are still ahead of last year’s projections.
The Governor’s office released the information this week. A summary is below.
- State general fund revenues for July totaled $1,065.6 million, which is $7.4 million (0.7%) below estimate based on the December 17, 2015 forecast, but $23.8 million (2.3%) above revenue in July 2015.
- Sales tax collections totaled $640.4 million for July, which is $18.0 million (2.7%) below the monthly estimate, but $26.1 million (4.2%) above revenue in July 2015.
- Individual income tax collections totaled $350.7 million for July, which is $19.6 million (5.9%) above the monthly estimate and $1.2 million (0.3%) above revenue in July 2015.
- Corporate tax collections totaled $13.1 million for July, which is $10.9 million (45.3%) below the monthly estimate, but $2.3 million (20.9%) above revenue in July 2015.
- Riverboat wagering collections totaled $2.0 million for July, which is $1.6 million (394.8%) above the monthly estimate and $1.6 million (408.7%) above revenue in July 2015.
- Racino wagering collections totaled $8.5 million for July, which is $0.1 million (1.3%) below the monthly estimate and $1.6 million (15.9%) below revenue in July 2015.
