Monday, December 10, 2012

Tax Amnesty Boosts General Fund Revenue


{Frankfort, Kentucky}…Budget director Mary Lassiter said Monday General Fund revenue in November rose 7.6 percent to $784.2 million, largely the result of a 16.4 percent jump in property tax collections as a result of tax amnesty in Kentucky. Individual income tax revenue increased by 10.7 percent and sales tax receipts rose by 4.6 percent for the month. Some 16,000 delinquent taxpayers had accepted the amnesty offer by the time it expired on November 30th.