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Idaho falls short on November tax revenue

Posted: 4:21 PM, Dec 10, 2018
Updated: 2018-12-10 18:21:41-05
Idaho falls short on November tax revenue

Idaho is on track to have roughly $63 million less in tax revenue than budget forecasters predicted, with general fund revenue collections for the month of November coming in nearly $16 million lower than expected.

A report from the Legislative Services Office released Monday says that when the 2019 Legislature convenes next month, lawmakers on the budget-setting committee could see an estimated ending balance of $43.7 million. That's about $1.4 million less than the budget they set last March.

So far this year Idaho's revenue collections total more than $1.4 billion. Budget officials say weak individual income tax collections are dragging down stronger revenue collections in other categories, like sales taxes and corporate income taxes.