Idaho Tax Collections Fall Short, but Budget Surplus Remains

  • by:
  • Source: US News
  • 07/20/2023
Idaho revenue from tax collections was $50 million below expectations for the first three months of the current fiscal year, but the state still has a $1.5 billion budget surplus, officials said Monday.

The Legislative Services Office said September’s revenue was down about $11 million, with sales and corporate income taxes below predictions. That follows similar misses by small amounts on projections for July and August.

Despite the $50 million drop, about 3.6%, in projected revenue for the first three months of this fiscal year, the state is still seeing revenue growth and bringing in more money compared to the same period last year — about $94 million more, or 7.5%.

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