State releases December 2017 General Revenue report

State Budget Director Dan Haug announced that 2018 fiscal year-to-date net general revenue collections increased 4.13 percent compared to 2017, from $4.26 billion last year to $4.44 billion this year.

Net general revenue collections for December 2017 remained flat at 0.0 percent compared to those for December 2016, from $813.1 million last year to $813.1 million this year.

Gross collections by tax type

Individual income tax collections

• Increased 2.2 percent for the year, from $3.15 billion last year to $3.22 billion this year.

• Decreased 4.3 percent for the month.

Sales and use tax collections

• Increased 0.8 percent for the year from $1.05 billion last year to $1.06 billion this year.

• Increased 1.5 percent for the month.

Corporate income and corporate franchise tax collections

• Increased 26.5 percent for the year, from $179.9 million last year to $227.5 million this year.

• Increased 45.3 percent for the month.

All other collections

• Increased 4.4 percent for the year, from $214.4 million last year to $223.8 million this year.

• Decreased 14.3 percent for the month.

Refunds

• Decreased 11.8 percent for the year, from $339.1 million last year to $299.0 million this year.

• Decreased 7.1 percent for the month.

Note: The FY 2018 total refund line includes Debt Offset Escrow amounts, which had not previously been included in the FY 2017 refund amount.

The figures included in the monthly general revenue report represent a snapshot in time and can vary widely based on a multitude of factors.