State tax collections $1.6 billion higher for ‘21-22 than previous projection

State tax collections for the 2021-22 fiscal year came in $1.6 billion higher than what the Legislative Fiscal Bureau projected just seven months ago, driven by strong growth in income and corporate taxes. The LFB in January had expected the state would finish the 2021-22 fiscal year with a surplus of $2.8 billion. Adding the higher-than-expected tax collections pushes that to around $4.4 billion,...