The estimate for sales/use tax for Fiscal Year 2022 is for a decrease of 3.2 percent over Fiscal Year 2021.Ĭorporate income tax receipts during September totaled $168.7 million, which is $31.0 million or 22.5 percent more than in September 2020. Fiscal year-to-date, sales/use tax receipts totaled $1,044.5 million, an increase of $161.0 million or 18.2 percent compared to the same period last year. September sales/use tax receipts totaled $270.7 million, which represents an increase of $35.4 million or 15.0 percent over September 2020. The estimate for personal income tax for Fiscal Year 2022 is for a decrease of 5.6 percent. Fiscal year-to-date numbers are heavily impacted by the filing date changes for individual income tax returns in calendar year 2020 from April 30 to July 30. Fiscal year-to-date, personal income tax receipts totaled $1,119.2 million, a decrease of 18.2 percent. Final return payments decreased $8.5 million. Estimated payments increased $8.5 million compared to last year. Withholding tax receipts increased $3.1 million or 1.1 percent compared to last year. This is $3.1 million or 0.8 percent more than the receipts of September 2020. Personal income tax receipts totaled $384.1 million during September 2021.
The current estimate for Fiscal Year 2022 is a growth rate of -6.7 percent for gross receipts on a cash basis and will be reviewed when the Revenue Estimating Conference meets in October. July-September receipts are heavily impacted by the filing date changes for individual and corporate income tax returns in calendar year 2020 from April 30 to July 30. Fiscal year-to-date gross receipts on a cash basis are 5.6 percent less compared to September 2020.
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