the State has yet again collected ore in taxes than it was expecting to. Total tax collections for November were $626.8m million. That is 3.1% or $18.9 million, more than the estimate.
Individual income tax collections were below the estimate for the month by 1.6% due to Remittance Due dates. Corporate income tax collections were 64.1%, more than the estimate. Sales and use tax collections were 3.1% more than the estimate. To break that down, retail sales collections were 3.0% more than the estimate for the month.
Compensating use tax collections were 3.2% more than the estimate. Revenue numbers come after the consensus revenue estimating group, made up of state financial advisors, researchers and university economists, met to evaluate the estimates for the remainder of the fiscal year.
