Total FY 2018 revenue receipts are 20 percent, or over $1 billion higher than last year, data from the latest collections report released Tuesday showed.
Tax receipts for April are $293.1 million above April 2017, with individual income tax accounting for $239.2 million of that total. Sales tax receipts for the month are $202.9 million, or $10.7 million above last April.
“We anticipated higher individual income tax collections in April because last year’s state tax legislation allowed payments to be made without penalty as long as they were made before the April 17 filing deadline,” Revenue Secretary Sam Williams said.
April tax receipts came in 7.6 percent or $66.1 million above newly revised consensus revenue estimates, for a total of $932.3 million in tax collections during the month.