Feb. tax receipts off 8.6%

Filed under: Daily News | Tags:

Colorado’s February general-fund tax receipts are 8.6 percent short of forecasts but 3.2 percent above the same period last year.

The Colorado Department of Revenue reported that the state collected $315 million in general-fund tax revenue in February, most of it sales and income tax.

The Office of State Planning & Budgeting last December had projected tax receipts of $344.6 million for February.

Net individual income tax revenue – tax receipts minus refunds – was $153 million for the month, short of estimates by 13.8 percent, the report says.

And sales tax was $138.4 million, 5.1 percent below estimates.

In February 2009, the state took in $305.1 million in general-fund revenue.

For the fiscal year to date, Colorado has collected $4.239 billion in general-fund taxes, 2.4 percent below forecasts and 9.1 percent behind last year’s receipts at this point.