State revenue beat forecast last month

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Florida general revenue tax collections in November were $10.3 million higher than expected, putting the year-to-date revenue collection estimate at $260.2 million above the earlier forecast, state officials said Wednesday.

The amount is barely a blip, but shows a continuing improvement in the economy that’s slightly outpacing earlier rebound projections. Sales tax collections slightly outpaced the August estimate, though in a barely statistically significant way, according to the Legislature’s Office of Economic and Demographic Research.

The good news, however, was that sales tax collections in the building sector came in nearly 7 percent higher than earlier projected, and documentary stamp tax collections – which reflect real estate transactions – were also slightly higher than expected back in the summer. Corporate income tax collections were also higher, but much of the difference there was due to audit assessments.

Via The News Service of Florida.

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.