State revenue projections

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State Revenue Falls Short Of Projection

Florida took in less general revenue in January than anticipated, according to state economists.

Collections during the month totaled about $4.184 billion, which was $31.4 million less than had been projected in an August forecast.

General revenue is made up of various types of taxes.

A report released Tuesday by the Legislature’s Office of Economic & Demographic Research said sales taxes, which make up the biggest part of general revenue, came in $10.3 million lower than projected.

Corporate income taxes were $18.8 million lower than forecast.

Meanwhile, the report said earnings on state investments were $25.8 million higher than forecast.

General revenue plays a key role in funding state programs such as education, health care and prisons.

Economists update projections periodically during the year.

A panel of economists known as the Revenue Estimating Conference will meet March 14 to issue new projections that lawmakers will use in negotiating a budget for the fiscal year that will start July 1.