The state revenue report for March doesn’t paint a rosy picture for those anticipating robust growth to pay for tax cuts and the like.
From the state summary:
March Net Available General Revenues total $365.2 million, $21.3 million or -5.5
percent below last year and $13.2 million or -3.5 percent below forecast.
Results in March were below forecast as a result of declines in Sales Tax and Individual
Income. Corporate Income tax was 13.9 percent above forecast.
For the first nine months of the year, the state gross collections are 1.3 percent above the same period last year.