Patricia Campbell Malone
Revenue Commissioner Frederick A. Laskey today announced that revenue collections for January 2000 totaled $1.69 billion, up $117.3 million or 7.5 percent from last January. Year-to-date revenue collections totaled $8.72 billion, up $446.1 million or 5.4 percent above last year. Collections for FY2000 are $85 million above the midpoint of the revenue estimate range, which is based on the Administration & Finance annual estimate of $15.288 billion.
"We continue to see solid growth in major revenue categories as we move into the latter half of the fiscal year. Income, withholding and sales tax collections all continue to remain strong," said Laskey.
Income tax collections for January totaled $1.23 billion, an increase of $113.7 million or 10.2 percent when compared to January 1999. Withholding tax collections totaled $683.0 million, up $64.7 million or 10.5 percent. Sales and use tax collections totaled $337.3 million, up $21.1 million or 6.7 percent. Corporate collections totaled $481,000, down $16.6 million compared to last January, as a result of increased corporate refunds.
Year-to-date income tax collections totaled $5.17 billion, up $294.3 million or 6.0 percent. Withholding collections totaled $4.25 billion, up $297.5 million or 7.5 percent. Total sales and use tax collections totaled $2.09 billion, up $161.2 million or 8.4 percent. Corporate collections totaled $411.8 million, up $10.3 million or 2.6 percent.
<strong>Monthly Revenue Report</strong> (PDF) (through January 31, 2000)
January 2000 monthly revenue, fiscal year-to-date revenue and actual tax collections.