Florida Revenue Beats Forecast

January 4, 2013

Florida general revenue tax collections in November were $10.3 million higher than expected, putting the year-to-date revenue collection estimate at $260.2 million above the earlier forecast, state officials said.

The amount is barely a blip, but shows a continuing improvement in the economy that’s slightly outpacing earlier rebound projections. Sales tax collections slightly outpaced the August estimate, though in a barely statistically significant way, according to the Legislature’s Office of Economic and Demographic Research.

The good news, however, was that sales tax collections in the building sector came in nearly 7 percent higher than earlier projected, and documentary stamp tax collections – which reflect real estate transactions – were also slightly higher than expected back in the summer.

Corporate income tax collections were also higher, but much of the difference there was due to audit assessments.

By The News Service of Florida

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Written by William Reynolds · Filed Under News