Ky. General Fund revenue down 3.5 percent in Dec.

Print
Email
|

Associated Press

Posted on January 11, 2014 at 3:01 AM

FRANKFORT, Ky. (AP) — Kentucky is reporting a 3.5 percent drop in tax collections for December, but state revenue is up slightly for the first six months of the fiscal year.

State Budget Director Jane Driskell said Friday that General Fund revenue totaled $912.6 million in December, a drop of $33.2 million for the same month in 2012.

Driskell says December 2012 collections included a $25 million windfall due to taxpayers taking advantage of an amnesty offer to avoid prosecution by catching up on back taxes.

She says tax collections are up 1.2 percent for the half of the current fiscal year.

Driskell says revenues need to grow 3.1 percent for the last six months of the fiscal year to meet the official revenue forecast by a group of the state's top economists.

Print
Email
|