License and privilege tax grew 12.5 percent in August but is down 3.3 percent year-to-date.Ĭlick here for more Kentucky business news.
Motor vehicle usage collections grew 5.8 percent for the month and have grown 3.4 percent for the first two months of the fiscal year. Motor fuels rose 3.3 percent in August and have increased 4.4 percent for the year. Based on year-to-date collections, revenues can decrease 3.0 percent for the remainder of the fiscal year and still meet the estimate. 
The official Road Fund revenue estimate calls for a 2.0 percent decrease in receipts for FY22. Motor vehicle usage tax collections rose 5.8 percent while motor fuels revenues grew 3.3 percent. Road Fund revenue grew 5.3 percent in August with revenues of $148.3 million and have increased 2.8 percent for the first two months of the fiscal year.
Lottery dividends rose 15.4 percent to $22.5 million in August and are up 15.6 percent through the first two months of FY21. Coal severance tax collections in August fell 15.5 percent to $3.5 million but are up 15.3 percent through the first two months of the fiscal year. Headlines Total HM Revenue and Customs ( HMRC) receipts for April 2023 to May 2023 are £128.6 billion, which is £6.7 billion higher than in the same period a year earlier. Large swings in receipts are not unusual early in a fiscal year for the property tax accounts. Property tax receipts rose 16.3 percent in August and have increased 8.0 percent for the fiscal year. The MTS is published to meet the needs of: those responsible for or interested in the cash position of the Treasury those who are responsible or interested in the. Cigarette tax receipts rose 17.0 percent for the month but have declined 6.7 percent for the year. The Monthly Treasury Statement of Receipts and Outlays of the United States Government (MTS) is normally released on the 8th workday of the month following the reporting month. Year-to-date receipts in these accounts have increased 207.3 percent, or $45.8 million. Corporation income tax and LLET collections grew 245.2 percent for the month, an increase of $11.9 million compared to prior year totals. The sales tax has posted growth in 13 of the last 14 months since the end of the recession in 2020. Sales tax revenues grew 11.7 percent in August and are up 9.4 percent through the first two months of the fiscal year. previously hints below Receiving in Receiving 2021 additional Marketplacedoes tonot you with the same receiving as in Bull Marketplace versus FAST Receipts are not linked to specific invoices in Bull Marketplace. Withholding receipts improved by $27.6 million compared to last August. Helpful Tips When Entering Receipts for Purchases In Bull Marketplace: August inreceiving Marketplace. Individual income tax collections rose 10.3 percent as the three main components of the tax all increased. Through the first two months of the fiscal year, collections in this fund have increased 2.8 percent. Road Fund receipts for August totaled $148.3 million, an increase of 5.3 percent from August 2020 levels. The Consensus Forecasting Group met in August to begin the process of revising the FY22 estimate and forecasting revenues for the upcoming biennium. Based on Augusts’ results, receipts can decline by 10.6 percent for the remainder of the fiscal year and still meet the official estimate. The official revenue estimate for FY22 calls for General Fund revenues to fall 7.7 percent compared to FY21 actual receipts. So far this fiscal year (FY22), General Fund receipts have increased 10.4 percent. Total revenues for the month were $937.7 million, compared to $833.8 million during August 2020. The General Fund receipts increased 12.5 percent in August compared to last year. Year-to-date, the city has collected more than $11.85 million.ĭue to the clawback of receipts by the state in May, compensating use tax collections for the year remain about $44,000 behind the first eight months of 2021, but traditional tax collections are up nearly $683,500, or about 7%, more than offsetting the use tax drop.FRANKFORT, Ky. That was up about $170,640 over last year, a 14.7% jump. Traditional sales tax receipts in the city eclipsed $1.334 million. RECEIPTS Deposited with the City Current Month Received to Date. The use tax collections were up more than 42% over the same month last year. The total included $258,853 in compensating use tax receipts, which are taxes collected on internet and catalog sales. 
It also bested August 2021, the city’s previous August record, by more than $60,000 or 4%. That was up about $248,386 over August of 2021, or an 18.5% increase. The taxes were collected by retailers on June sales and forwarded to municipalities in August.įor the city, tax receipts totaled nearly $1.593 million. After declining in July, sales tax receipts more than rebounded in August for both Hutchinson and Reno County.
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