By The News Service of Florida
State general revenue collections for April exceeded expectations by $158.9 million, even with sales tax coming in under the forecast, according to a report released Monday by the Legislature’s Office of Economic & Demographic Research.
The report shows the state collected $5.78 billion in general revenue in April, 2.8 percent above the amount anticipated.
General revenue is closely watched because it plays a major role in funding education, health and prison programs.
Sales tax collections, which make up the largest part of state revenue, totaled $3.52 billion for April. The total was $91 million below the forecast.
Corporate income taxes accounted for $1.3 billion in revenue, or $133 million over the forecast. Also, insurance taxes came in at $247.8 million, about $60.6 million over projections, and earnings on state investments totaled $124.5 million, $4.7 million on top of the estimate.
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