From Stu Johnson, Kentucky Public Radio State officials hope higher than expected tax receipts translate into more jobs across Kentucky. The end of the fiscal year report shows general fund tax receipts came in $6.5-percent higher than anticipated. State Budget Director Mary Lassiter says receipts exceeded estimates by $166 million. She says the numbers signal… Continue reading Kentucky Revenues Exceed Estimates By $166 Million
Sales and use tax receipts, individual income, and property tax collections rose last month, but corporate income, cigarette tax and coal severance tax receipts were down.
State Budget Director Mary Lassiter is cautiously optimistic about Kentucky’s economic outlook. She told lawmakers in Frankfort revenue and road fund receipts are up, and unemployment is slightly down.
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… Continue reading Kentucky Tax Revenues Continue Slide