Over the past 11 months for Fiscal Year 2013, state general fund revenues have increased $290.4 million from Fiscal Year 2012.
The State Budget Agency announced that for the first time since February, sales tax collections were over target. Through May, sales tax collections have increased $154.3 million over the same 11 month period last year and are running slightly below forecast.
Individual income tax collections for May were below target by $86.8 million after exceeding the April target. Corporate income tax collections for May exceeded target by $10.7 million, or 62.6 percent. Through May, corporate income tax revenues have increased $9.2 million.
