{"id":9405,"date":"2024-04-03T12:07:07","date_gmt":"2024-04-03T17:07:07","guid":{"rendered":"https:\/\/nwfl4sale.com\/floridas-general-revenue-tops-forecast\/"},"modified":"2024-04-03T12:07:07","modified_gmt":"2024-04-03T17:07:07","slug":"floridas-general-revenue-tops-forecast","status":"publish","type":"post","link":"https:\/\/nwfl4sale.com\/floridas-general-revenue-tops-forecast\/","title":{"rendered":"Florida\u2019s General Revenue Tops Forecast"},"content":{"rendered":"

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Net general revenue in Feb. totaled nearly $3.538B, up $217.M, or 6% higher than projected. Analysts said the sales-tax portion could be misleading.<\/span><\/span><\/span><\/span><\/p>\n<\/div>\n

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TALLAHASSEE, Fla. \u2013 State general-revenue tax collections were more than 6% higher than anticipated in February, though economists cautioned that part of that result could be deceptive.<\/span><\/span><\/span><\/span><\/p>\n

The Legislature\u2019s Office of Economic & Demographic Research released a report that showed net general revenue in February totaled nearly $3.538 billion, which was $217.6 million more than projected in a forecast released in January.<\/span><\/span><\/span><\/span><\/p>\n

Sales-tax collections, which are the biggest part of general revenue, came in at almost $2.844 billion, which was $93.7 million more than anticipated for the month. But the report noted the sales-tax figure could be deceiving.<\/span><\/span><\/span><\/span><\/p>\n

\u201cThis positive result, however, was primarily driven by procedural adjustments to estimated payments and unpaid liability that sent a deceptive signal about the underlying sales tax activity which was essentially on estimate for the month,\u201d the report said.<\/span><\/span><\/span><\/span><\/p>\n

General revenue taxes are closely watched because they play a key role in funding various state operations, including education, health care and prisons.<\/span><\/span><\/span><\/span><\/p>\n

In addition to sales taxes, revenue from corporate income taxes topped projections by $42.5 million in February, and earnings on investments were $25.1 million over projections. Meanwhile, insurance taxes were $17.7 million below the forecast.<\/span><\/span><\/span><\/span><\/p>\n

\u00a9 2024 The News Service of Florida. All rights reserved.<\/span><\/span><\/span><\/span><\/p>\n<\/div><\/div>\n

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\nAuthor: marlam<\/p>\n","protected":false},"excerpt":{"rendered":"

Net general revenue in Feb. totaled nearly $3.538B, up $217.M, or 6% higher than projected. Analysts said the sales-tax portion could be misleading. TALLAHASSEE, Fla. \u2013 State general-revenue tax collections were more than 6% higher than anticipated in February, though economists cautioned that part of that result could be deceptive. The Legislature\u2019s Office of Economic & Demographic Research released a report that showed net general revenue in February totaled nearly $3.538 billion, which was $217.6 million more than projected in a forecast released in January. Sales-tax collections, which are the biggest part of general revenue, came in at almost $2.844 billion, which was $93.7 million more than anticipated for the month. But the report noted the sales-tax figure could be deceiving. \u201cThis positive result, however, was primarily driven by procedural adjustments to estimated payments and unpaid liability that sent a deceptive signal about the underlying sales tax activity which was essentially on estimate for the month,\u201d the report said. General revenue taxes are closely watched because they play a key role in funding various state operations, including education, health care and prisons. In addition to sales taxes, revenue from corporate income taxes topped projections by $42.5 million in February, and earnings on investments were $25.1 million over projections. Meanwhile, insurance taxes were $17.7 million below the forecast. \u00a9 2024 The News Service of Florida. All rights reserved. \u2715 ADVERTISEMENT Go to Source Author: marlam<\/p>\n","protected":false},"author":4,"featured_media":9406,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/9405"}],"collection":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/comments?post=9405"}],"version-history":[{"count":0,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/9405\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media\/9406"}],"wp:attachment":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media?parent=9405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/categories?post=9405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/tags?post=9405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}