Kentucky Tax Revenues Continue Slide

State officials say Kentucky’s October’s General Fund receipts dropped four percent from the previous year, raising the likelihood of more budget cuts in the near future.

Revenues from corporate and individual income tax collections both fell in October as did receipts from use and sales taxes.

There was also a 3.2 percent hike in lottery revenues and a recent increase in the state cigarette tax caused a 53 percent jump in October revenues from 2008.