revenue

State Revenue Receipts Improve

by Tony McVeigh on May 10, 2011

Kentucky continues to show positive gains in state revenue receipts.

State General Fund receipts in April were up almost eight percent, or $62 million more than April 2010 collections. Receipts have grown 5.6 percent in the current fiscal year, which ends June 30th.

A growth rate of 4.5 percent was needed to balance the budget, and the state is already projecting a surplus of around $64 million.

However, disaster expenditures will consume about half of the surplus. The rest will go into the state’s depleted Budget Reserve Trust Fund.

State Budget Director Mary Lassiter says the robust rebound in General Fund receipts is “further evidence of a growing state economy.”

Sales and use taxes are up more than four percent this fiscal year. Corporate income taxes are up 22 percent. Also on the rise are individual income and coal severance tax collections. Property tax and cigarette tax collections are down this fiscal year.

State Road Fund receipts are up almost 12 percent over the previous fiscal year.

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Kentucky Tax Collections Were Up in May

by scrosby June 11, 2010

by Kentucky Public Radio’s Tony McVeigh There was an encouraging rise in Kentucky’s revenue receipts in May, compared to the same month last year. State tax collections rose just over three percent last month, with total receipts exceeding $636 million. That’s compared to $617 million collected in May 2009. For the first 11 months of […]

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State Offices Won't Stay Open For Last-Minute Tax Filers

by Gabe Bullard April 14, 2009

The struggling economy has had an impact on tax preparation and filing in Kentucky.

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KY Legislative Leaders To Talk Taxes

by Rick Howlett February 3, 2009

From Kentucky Public Radio’s Tony McVeigh Kentucky House and Senate leaders are now signaling it’s likely going to require new revenue sources to balance the state budget this fiscal year. After caucusing for two hours, House Democrats gave their leaders the green light to talk taxes with Senate leaders. All options remain on the table, […]

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Arts Groups Watch, Plan for Economic Fallout

by ekramer November 26, 2008

Sure, the end-of-the-year holidays have significant meaning for different faiths, but this time is also when arts organizations take stock of their current season…and plan for the next. WFPL’s Elizabeth Kramer reports on how the current economy is factoring into what we might see and hear in the future. Summer’s high fuel costs and the […]

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Forecast: Kentucky Revenues Plummeting

by Rick Howlett November 21, 2008

From Kentucky Public Radio’s Tony McVeigh More bad economic news out of Frankfort, as a panel of economic experts revises downward, the revenue estimates on which Kentucky’s budget is based. The Consensus Forecasting Group believes the state could be facing a $456 million deficit this fiscal year, which is worse than the $294 million predicted […]

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