The second month of Fiscal Year 2021 saw the State continuing to see total tax collections performing above estimates – and above last year’s pre-coronavirus collections.
Total tax collections for August were $543.5 million.
That is $40.2 million, or 8.0%, more than the estimate.
That is 9.3%, or $46.3 million, ahead of last August.
August’s individual income tax collections were 12.9%, or $31.0 million, more than the estimate, with $271.0 million collected.
Compared to the same month last fiscal year, that is a 17.2%, or $39.7 million in growth.
Corporate income tax collections were 10.5% more than August of last fiscal year with $7.3 million collected.
Retail sales tax collections were 2.5%, or $5.1 million, more than the estimate with $207.1 million collected.
That is a $1.8 million growth compared to the same month of last fiscal year.
Compensating use tax collections were $12.7 million, or 38.9%, more than last August with $45.3 million collected.
That is $9.3 million more than estimated.