December Revenue Misses Forecast

Florida’s net general revenue for December came in slightly below the state economists’ forecast—reported as about $4.393B, roughly $6.5M (0.1%) under the projection—largely attributed to corporate income tax refunds running above estimates as the state worked through a refund backlog. At the same time, several key revenue categories were reported ahead of forecast, including sales taxes and documentary stamp taxes on real estate transactions, while the state’s revenue outlook for the fiscal year was updated in late January. For more information click here.