State Budget Director Dan Haug recently announced that net general revenue collections for October 2018 decreased 6.1 percent compared to those for October 2017, from $637.3 million last year to $598.4 million this year.

State Budget Director Dan Haug recently announced that net general revenue collections for October 2018 decreased 6.1 percent compared to those for October 2017, from $637.3 million last year to $598.4 million this year.

Net general revenue collections for 2018 fiscal year-to-date decreased 3.9 percent compared to October 2017, from $2.88 billion last year to $2.77 billion this year.

Gross collections by tax type

Individual income tax collections

Decreased 3.6 percent for the year, from $2.13 billion last year to $2.06 billion this year

Decreased 6.2 percent for the month

Sales and use tax collections

Increased 4.7 percent for the year, from $687.4 million last year to $719.8 million this year

Increased 13.2 percent for the month

Corporate income and corporate franchise tax collections

Increased 1.9 percent for the year, from $128.5 million last year to $130.9 million this year

Increased 1.6 percent for the month

All other collections

Growth remains flat for the year, with collections of $127.9 million

Increased 11.2 percent for the month

Refunds

Increased 35.0 percent for the year, from $197.9 million last year to $267.1 million this year

Increased 40.3 percent for the month.

Director Haug also noted the General Revenue Fund borrowed $125 million from the Budget Reserve Fund for cash flow purposes. The funds will be repaid before the Constitutional deadline of May 15, 2019.