Kentucky’s General Fund receipts up 4.8 percent in July

State Budget Director John Chilton says Kentucky’s tax collections in July were up nearly 5 percent from a year ago.
    
Chilton said Wednesday that state General Fund receipts for July totaled $769.3 million, a 4.8 percent increase compared with receipts in July 2015. July is the first month of the fiscal year.
    
Chilton’s office reported big gains in income and property tax collections last month.
    
It says corporate income tax collections rose 36.6 percent above last July’s total, while individual income tax receipts were up 14 percent. Property tax receipts surged 56.2 percent. Sales tax revenues grew 3.3 percent.
    
Coal severance tax revenues declined 46.7 percent and cigarette tax collections fell 9.4 percent in July.
    
Despite the robust July collections, Chilton cautions that sustaining that revenue trend remains a concern.

Related Articles

FBI reveals sketch of person of interest in post office bomb The FBI has released a sketch and description of a person of interest in a pipe bomb explosion at a post office in northwestern Indiana.
Sen. Rand Paul still opposes GOP health care bill, despite changes Kentucky U.S. Sen. Rand Paul says he will not vote for the latest Republican health care bill, calling last-minute changes designed to send more money...
Standoff in McCracken County ends with arrest A man is in custody after a standoff with McCracken County sheriff's deputies Monday morning.
Two Harrisburg, IL women killed in weekend crash Illinois State Police say two pickup trucks hit each other head-on.