Florida’s tax collections $56.4 million higher than expected in February

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With a boost from corporate income taxes and county Medicaid payments, Florida’s general-revenue collections in February were $56.4 million higher than expected, according to a new report by the Legislature’s Office of Economic & Demographic Research via The News Service of Florida.

For the fiscal year, general-revenue collections are $74.6 million above earlier estimates. The report, released Tuesday, says corporate-income tax collections were $18.9 million higher than expected in February. Also, fees that counties pay for Medicaid services were $17.2 million above estimate. The report says more counties than usual made payments, which “likely represents a catch-up from previous months.” Legislative leaders and counties have recently battled about whether counties have fully made Medicaid payments to the state.

Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including SaintPetersBlog.com, FloridaPolitics.com, ContextFlorida.com, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.