Tax Amnesty Program Increases General Fund Revenue
A tax amnesty program is being credited with pushing up General Fund revenue by 3.8 percent in January. State Budget Director Jane Driskell says individual income tax revenue rose by more than 35 percent and corporate income tax receipts rose nearly 83 percent as those who took advantage of the amnesty offer paid up.
The state took in more than $838 million in January, a $30 million increase over the same month last year. That increase came despite declines in revenue from some key taxes, including property, coal severance and sales taxes.