LFB: State to take in $818 million more in taxes through mid-2021

The state is now expected to take in an additional $818.2 million through mid-2021 than previously projected, driven largely by strong corporate tax collections, according to the Legislative Fiscal Bureau.
That additional revenue will mean a deposit of $409.1 million in the state’s rainy day fund. Adding the leftover tax collections with a slight bump in departmental revenues and a small decrease in net appropriations means an additional $451.9 million in the general fund, according to LFB.
And the state’s projected bottom line could grow even more depending on what happens with the Foxconn pr...

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