State Budget Director Dan Haug has announced that net general revenue collections for March 2020 decreased 4.2 percent compared to those for March 2019, from $759.5 million last year to $727.6 million this year.
A news release says net general revenue collections for fiscal 2020 year-to-date increased 5.8 percent compared to March 2019, from $6.43 billion last year to $6.80 billion this year.
GROSS COLLECTIONS BY TAX TYPE
Individual income tax collections
· Increased 6.1 percent for the year, from $4.97 billion last year to $5.28 billion this year.
· Decreased 8.9 percent for the month.
Sales and use tax collections
· Increased 2.5 percent for the year, from $1.68 billion last year to $1.72 billion this year.
· Increased 5.6 percent for the month.
Corporate income and corporate franchise tax collections
· Increased 15.8 percent for the year, from $291.3 million last year to $337.3 million this year.
· Increased 25.8 percent for the month.
All other collections
· Decreased 2.4 percent for the year, from $370.1 million last year to $361.3 million this year.
· Decreased 17.3 percent for the month.
Refunds
· Increased 1.2 percent for the year, from $887.1 million last year to $897.9 million this year.
· Decreased 13.8 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.