Jones: State revenue remains strong
June 23, 2022
General Fund revenue for the state continued to come in strong, as tax receipts in May were 43.6 percent higher than what the state collected in May 2021. While some of this increase is attributable to a variety of tax filing deadlines falling on a weekend at the end of April, the strong revenue number continues the state on a path to collect more revenue than what the Revenue Estimating Conference (REC) projected.
Leading the revenue growth this month was personal income tax, which generated $939 million in collections for May. This amount is 60.4 percent higher than what came in during la...