State tax revenues beat forecasts again in August

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Idaho’s state tax revenues for August came in 1.6 percent ahead of forecasts, and 5.2 percent higher than last August. For the fiscal year to date – just two months in – that puts general fund receipts up 8.2 percent over the same time period in fiscal year 2017, which is faster than the anticipated 4.8 percent growth. While individual income tax receipts for the month fell short of forecasts by $2.8 million, all other categories were ahead of forecasts, with sales taxes coming in the strongest at $5.1 million, or 4 percent, ahead. For the fiscal year to date, Idaho general fund receipts are now 3.3 percent ahead of forecasts. You can see the full monthly General Fund Revenue Report here.
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