General Fund receipts up nearly 13 percent in Nov.

Tax collections for Kentucky’s General Fund grew by nearly 13 percent in November compared with a year ago.

State Budget Director Jane Driskell said Wednesday that total revenues for November reached $905.7 million, compared with $802.9 million in the same month a year ago. She says higher sales and individual income tax receipts account for most of the increase.

Driskell says overall receipts have now risen 4.2 percent for the first five months of the state’s fiscal year. She says receipts need to increase 3.2 percent over the final seven months to achieve the official revenue estimate.

Officials say individual income tax collections rose 13.7 percent in November, while sales and use tax receipts increased 11.8 percent.

Cigarette tax receipts fell 24.3 percent in November and coal severance tax receipts were down 3.9 percent.

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Categories: News, State News

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