Two straight years and counting.
The state’s tax receipts are now on a 24-month streak of surpassing estimates, continuing that mark in July with over $586 million collected for the month — beating estimates by almost $128 million.
At least at the monthly level, the trend was across the board. Individual income tax receipts beat estimates by nearly 16 percent. Corporate income taxes were over 66 percent over projections. Retail sales taxes were over estimates by almost 40 percent and compensating use taxes beat estimates by 66 percent, although a change in timing for remittances by large retailers actually meant a smaller number than was collected in July 2021.
