General Fund receipts rise 3.8 percent in January

Posted: Mon 4:16 PM, Feb 11, 2013

FRANKFORT, Ky. (AP) - A tax amnesty program is being credited with pushing up General Fund revenue by 3.8 percent in January.

State Budget Director Jane Driskell said individual income tax revenue rose by more than 35 percent and corporate income tax receipts rose nearly 83 percent as those who took advantage of the amnesty offer paid up.

The state took in more than $838 million in January, a $30 million increase over the same month last year. That increase came despite declines in revenue from some key taxes.

Property tax collections were down 47 percent. Coal severance tax collections were off by nearly 27 percent. And sales tax revenue was down 2.4 percent.

Road Fund revenue rose 2.4 percent, largely thanks to growing revenues from the state's fuel tax.

A cool start to the holiday weekend