Revenue Estimates
Sales and Use Tax

The sales and use tax forecast has been reduced by $589 million in the current year and $1.854 billion in the budget year. Through April, sales tax receipts are $646 million below the Governor's Budget estimate.

The current year reduction is due primarily to the effects of a soft housing market on taxable sales. The budget year reduction is due to a reduced forecast for disposable income and housing permits, and increased "spillover" from the General Fund.

"Spillover" is the transfer of gasoline and diesel fuel sales tax revenues from the General Fund to the Public Transportation Account (PTA) and the Mass Transportation Fund (MTF). The May Revision increases the forecast for 2008-09 spillover transfers from $909 million to $1.177 billion due to significantly higher gas prices in 2008.
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CHAPTER HIGHLIGHTS for Revenue Estimates Back to Top

 Personal Income Tax
image of black pointing arrowSales and Use Tax
 Corporation Tax
 Insurance Tax
 Other Revenues and Transfers
PRINTABLE BUDGET DOCUMENTS Back to Top
Revised Budget Summary - Revenue Estimates (pdf * - 155K) -
Provides the entire Revenue Estimates Chapter in pdf format.
ADDITIONAL INFORMATION Back to Top
Proposed Budget Summary - Revenue Estimates (January 2008)
Displays Proposed Budget Summary information for Revenue Estimates.