State revenue in a column in other
HELENA - money from the state through personal income tax was fastest in revenue last year, but payments by companies to reduce the Montana Legislature’s chief revenue Forecaster said.
For the first three quarters of the year, income taxes were paid by private individuals of more than 9 per cent more than during the same period last year, taxation, Terry Johnson, analyst says . Silver of the corporate tax 21 percent of taxes was low, “said Johnson, the legislature on revenue and transportation interim committee.
Montana’s main account, the State supports the government 55 per cent of its funds from taxes paid by individuals and businesses.
Johnson said Friday the Committee, he was not sure that collections, taxes on individual income, which would remain at the same pace for the rest of the year, June 30. Tax and reimbursements are executed $ 15 million, or 11.3 percent higher than this time last year, perhaps because the approved tax credits in May during a special meeting the legislature.
Johnson Corporate final binding on the tax credits on the collections and the “destiny of the economy of the financial sector.”
The surplus funds from the general state, the main operating account, probably, a decrease of $ 125 million in mid-2009, said Johnson. During the 2007 legislative session, lawmakers preparing the state budget for a period of two years was said, $ 1 billion surplus was projected.
Johnson has a “watch list for budgetary matters.” His recordings include $ 4.2 million in the state budget for tax relief of $ 400 per household, but not invoked. The money in the General Fund.
Also on the list:
_ $ 2.3 million more taxes to the state with PPL Montana cities.
_ $ 4.4 million in higher taxes, government revenue linked to the Bush administration of economic momentum.
_ $ 8 million from a colony, state and energy group Avista.
_ $ 33 million to $ 150 million in future payments into an account of the state Workers’ Compensation.
_ $ 15.2 million in lost revenue if Initiative 155 is qualified to vote and approval by voters in November. The measure would extend health insurance for children. Legislative lawyer Lee Heiman, that if the initiative passes, the legislature must decide whether the money comes from the insurance premium tax.
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