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.