All Budget Highlights Posts
Rollercoaster Year Ends on a Positive Note for Revenue Collections
On December 16th, the Tax Commission released the TC-23 revenue summary detailing the first five months of collections to state funds. The Education Fund remains...
December 17, 2020
Despite Future Uncertainty, Revenues Continue Upward Growth
On Monday, November 16th, the Tax Commission released the TC-23 revenue summary, along with the GOMB/LFA Revenue Snapshot, detailing collections through the first four months...
November 18, 2020
Revenue Through Q1 Boosted by Online Sales and Federal Stimulus
Federal Stimulus Helps FY 2020 End Better than Expected Earlier this month, the Tax Commission released the final TC-23 Revenue Summary for Fiscal Year 2020....
October 28, 2020
Federal Stimulus Appears to Band-Aid Revenues through close of Fiscal Year 2020
The preliminary TC-23 Revenue Summary Report for twelve months of FY 2020 was released by the Tax Commission Thursday, July 16th, along with the Revenue...
July 23, 2020
Pandemic Impacts Take Shape as Fiscal Year Comes to a Close
The Utah Tax Commission released its TC-23 Revenue Summary Wednesday, June 17th, 2020, detailing the actual collections through 11 months of Fiscal Year 2020. As...
June 17, 2020
Income and Fuel Taxes Begin to Show Pandemic Effects
On Tuesday, May 12th, the Tax Commission released their TC-23 Revenue Summary Report for the month of May. Readers may recall that the April TC-23...
May 13, 2020
Collections Hold Steady as the Legislature Prepares to Weather the Storm
The April TC-23 report released by the Tax Commission reports revenue collections to the General, Education, and Transportation Funds are all on target with consensus...
April 16, 2020
Revenues Still On-track, but Don’t Yet Reflect Pandemic’s Impact
Through the end of February, revenues from all taxes were on target, representing an increase of $571 million over FY 2019. Sales and use tax...
April 2, 2020
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