Pandemic shows impact on monthly state tax collections

May 21, 2020
Written by wpengine

State tax collections for the month ending May 10 dropped 22.5% short of expectations due mostly to the effect of business closures related to the COVID-19 pandemic.

The report by the Economic and Revenue Forecast Council (EFRC) represented the first revenue collections showing the effects of the pandemic.

The monthly reports include sales tax, the use tax, the business and occupation tax, the public utility tax, the tobacco tax and penalties and interest. The Department of Revenue has granted payment deferrals to the end of June in some cases.

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