Idaho’s Tax Revenue Exceeds Expectations
BOISE, Idaho (AP) — Idaho saw a jump in tax revenue in September, a month when collectors raked in $16 million more than forecasts and put the state’s finances ahead of schedule amid a steadily recovering economy. Total monthly receipts were $263 million, or 6.4 million more than forecasts. The Division of Financial Management reported Tuesday that Idaho’s tally three months into fiscal year 2014 is just over $700 million, or about 1.6 percent more than forecasts. Nearly every revenue category exceeded expectations, led by individual income taxes that came in at $111 million for the month. Collections from individual income taxes have exceeded predictions in all three months of the year. Additionally, September sales tax collections of $104.5 million also bested forecasts, a sign shoppers were out in force at stores across Idaho.