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Determination of Whether Net State Tax Revenues Exceeded Allowable State Tax Revenues - Exhibit I

Calculation to Determine Whether Net State Tax Revenues Exceeded Allowable State Tax Revenues for the Fiscal Year Ended June 30, 2024.
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Overview

  
Allowable State Tax Revenues for the Fiscal Year Ended June 30, 2024*†$ 44,130,782,381
Less: 
Net State Tax Revenues for the Fiscal Year Ended June 30, 2024‡ꭥ$39,457,279,313
Net State Tax Revenues Below Allowable State Tax Revenues for the Fiscal Year Ended June 30, 2024§$   4,673,503,068

*  See Exhibit V.

†  Allowable state tax revenues are an amount equal to the computed maximum state tax revenues for any fiscal year.

‡  See Exhibit II.

ꭥ  Net state tax revenues are state tax revenues as decreased by the amount of state tax revenues abated or refunded.

§  Net state tax revenues under allowable state tax revenues are the amount by which net state tax revenues for a fiscal year are under the allowable state tax revenues for said fiscal year.

Date published: September 17, 2024

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