LFB: Tax collections again drop in May compared to ‘19, but not as steep as April decline

Wisconsin tax collections in May dropped again compared to the same period a year before due to the fiscal impact of COVID-19, but significantly less than what the state saw in April, according to a new memo from the Legislative Fiscal Bureau.
The $66 million dip in receipts was largely driven by a drop in sales tax collections compared to a year ago. Still, LFB Director Bob Lang wrote in a memo that drop in sales tax collections wasn’t as bad as previously feared, largely thanks to upticks in online sales as well as purchases of home-improvement supplies.
The state took in nearly $1.3 billion...

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