Corporate tax collections drive $1.2 billion surplus to end fiscal year

A continued surge in corporate tax collections over the rest of this fiscal year will help produce a $1.2 billion surplus to end the 2019-21 budget, giving the state a cushion heading into the next biennium.
According to a report from the Evers administration today, the state will see $1.35 billion in additional revenue growth over the 2021-23 biennium on top of the gross balance of $1.2 billion surplus.
Even with those healthy revenue numbers, the state would face a $1.2 billion deficit for the 2021-23 biennium if every agency request were approved.
But DOA Secretary Joel Brennan noted in a l...

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