Idaho state tax revenues in September came in 4.1 percent ahead of forecast, giving the state its first year-to-date surplus since the fiscal year started July 1. The state took in $14 million more in general fund tax revenues in September than anticipated; for the fiscal year to date, that puts the state’s revenue picture $11.1 million ahead of forecasts.
It was the first month since April in which individual income tax collections beat forecasts. Corporate income tax and sales tax revenues also came in ahead of targets, though the corporate tax collections were lower than the same month a year earlier. You can see the full monthly General Fund Revenue Report here from the state Division of Financial Management. The Legislative Budget Office reported that the latest monthly numbers put the estimated year-end surplus at the end of the current budget year, on July 1, 2020, at $75.9 million. When state lawmakers adjourned their 2019 session in April, the projection was for a $173.8 million ending balance.