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Sales Tax Growth Improving, Not Enough to Close Gap in Education and General Funds
On Thursday (Feb. 20th), the Governor’s Office of Management and Budget and the Legislative Fiscal Analyst released their updated 2020 Consensus Revenue Estimates. These estimates,...
February 20, 2020
Revenue Collections in-line with Latest Estimates
First Half of FY 2020 in the Books Reports for December and January show both General and Education Fund revenues coming in on-target, with collections...
February 3, 2020
Income Tax Continues to Outpace State Sales Tax through Q1
State Revenue Growth Higher than February Projections In the first quarter of the Fiscal Year, income tax grew 11.3% which represented a $135 million dollar...
December 9, 2019
Revenue Surplus Sets the Stage for Tax Reform
The year-end numbers are in In Fiscal Year 2019, the revenue surplus to the education fund was $134 million. After adjustments (such as putting money...
October 28, 2019
Strong Income Taxes Bail-out Sales Tax Through 12 Months of FY19
Despite a probable deficit in the General Fund, the Utah State Tax Commission's latest report on revenue collections for twelve months of fiscal year 2019...
July 18, 2019
Strong Income Tax Lifts State Revenue Collections Despite Declining Growth Rates
Combined General and Education Fund revenue collections for the current fiscal year (2019) totaled $6.9 billion through the first eleven months. That represents year-over-year growth...
June 17, 2019
Local Governments Address Long-Term Fiscal Stability Amid Population Growth
Utah’s population grew nearly 15% this decade, ranking No. 1 in the nation.1 By 2060, Utah’s population is projected to nearly double. The dramatic growth...
June 12, 2019
Strong Final Payments Highlight April
Earlier this week, the Tax Commission released the TC-23 report for the month of April. Exceeding the current revenue target of 5.7%, General and Education...
May 17, 2019
Revenue Collections Still Below Target Despite Growth in March
The Tax Commission’s TC-23 report, which captures a snapshot of revenue collections through the first 9 months of fiscal year 2019, shows that Income Tax...
April 22, 2019
Slight Improvement in Revenue Growth through February
The Tax Commission released their monthly revenue report (TC-23) earlier today. Through the first 8 months of FY 2019, according to the report, the revenue...
March 19, 2019
Income Tax Revenue Below Target Range
The Tax Commission’s TC-23 was released earlier today. The report, which captures a snapshot of revenue collections through the first 7 months of fiscal year...
February 19, 2019
A Sharp Drop in Gross Paids Headlines the Revenue Picture through 6 Months of 2019
The Tax Commission released their 6th month TC-23 on January 22nd. We are halfway through the fiscal year. Through the first 6 months, the state...
January 28, 2019