The Kentucky General Fund receipt rose more than $25 million dollars in November compared to this time last year.
That’s according to a report from State Budget Director John Chilton released on Monday. Total revenues for the month are $907.8 million dollars, compared to $882.5 million in 2016.
Chilton said most of the revenue gain came from sales and gross receipts revenue. He said individual income tax withholding collections, however, have fallen for two consecutive months, negating the effect of the revenue growth.
Other major accounts included the corporation income tax receipts, which rose $1.2 million in November. Receipts year-to-date have declined 7.4%.
The sales and use tax receipts increased 5.8% in November, the third consecutive month in which growth has exceeded 5%; growing 2.7% year-to-date.
Property tax collections rose 2.8% for the month but have decreased 7.9% year-to-date.
Cigarette tax receipts fell 7.9% in November and are down 7.5% for the first five months of the fiscal year. Lottery revenues rose 2.4 percent for the month but are down 2.2 percent for the year.
Coal severance tax receipts declined 22.4% in November and are down 4.4% year-to-date.
The Road Fund receipts for November totaled $124.1 million, a 1.6% decrease from November 2017 levels. Year-to-date Road Fund receipts have fallen 0.7%. Motor fuels tax receipts grew 2.5% in November and are now flat for the year.
Motor vehicle usage tax collections declined 3.3% in November; year-to-date collections have decreased 2.4%. License and privilege receipts fell 14.6 % for the month while non-tax receipts grew by $1.4 million.
Chilton said receipts rose 1.1% for the first five months of this fiscal year and must increase 3.1 % over the final seven months to achieve the official revenue estimate of more than 10.7 billion dollars.
