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Kentucky General Fund revenues down slightly in January

FRANKFORT, Ky. (AP) - Tax collections fell slightly in Kentucky last month, contributing to sluggish overall revenue growth in the first seven months of the fiscal year.

State Budget Director Jane Driskell said Monday that General Fund revenues totaled $831.2 million in January, down 0.9 percent from the same month in 2013.

Driskell says receipts have grown 0.9 percent for the first seven months of the fiscal year.

She says tax collections will have to grow by 3.9 percent in the last five months of the fiscal year to meet the full-year revenue estimate.

Sales and use tax receipts were up 0.6 percent last month. Individual income tax collections declined 9.4 percent from a year ago, and corporate income tax receipts fell 28.9 percent.

Coal severance tax receipts dropped by 14.3 percent last month.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


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