Revenue Growth Slows a Bit Through Five Months

January 7, 2019

Every month the Tax Commission releases a monthly revenue snapshot. This gives us a chance to compare what’s actually happening this the projected figures.  This past month’s report showed revenue growth slowing slightly to 11.1%.  In October revenue growth was 13.8%.  In November it was 11.2%.

Overall, revenue is moving closer towards the current target of 7.4%.  Behind the continued strong growth is strong withholding (9.1%), sales tax (6.7%), and corporate tax (143.7%).  Federal tax reform is partially responsible for the strong corporate receipts.

For more, read our monthly revenue snapshot, here.