State tax collections higher than expected
Department of Revenue released preliminary data Wednesday
MADISON, Wis. — Tax collections for Wisconsin’s fiscal year that ended in June were nearly 1 percent higher than projected.
The state Department of Revenue released the preliminary data Wednesday. It showed that tax collections were up 4.7 percent from the previous year and were 0.9 percent, or nearly $127 million, above the estimate made in May.
Department of Administration Secretary Mike Huebsch said the numbers are encouraging, but state agencies need to be fiscally responsible while preparing budget requests for the next two years.
Final numbers showing how much money was actually spent will be published in an annual report released in mid-October.
Gov. Scott Walker will introduce his next two-year budget early next year for the Legislature to consider and pass likely sometime in the summer.