State Collections Above Estimates for October, But Remain Below on Year

The Independent Fiscal Office and State Department of Revenue have released the revenue reports for October. The state collected $3.2 billion in General Fund revenues for October, 3.7% above the IFO’s official estimate. Personal income tax collections were 4.2% above estimate.

The Motor License Fund received $240.2 million in October, $1.9 million above estimate, which includes liquid fuels taxes and other license, fine, and fee revenues. Year to date, the Motor License Fund is at $1.1 billion, 4.2% below estimate. Click here for the IFO report and here for Revenue’s press release.