First Quarter Tax Collections Up 6.5% Compared to Last Fiscal Year

MacIver News Service | October 18, 2013

[Madison, Wisc…] In a sign that individuals and businesses are making more money in Wisconsin, tax collections are up 6.5 percent for the first quarter of fiscal year 2014 according to a report from the Department of Revenue.

DOR released general purpose revenue (GPR) tax collections from July to September 2013, the first three months of FY14, on Friday.

According to the report, individual income tax collections are up $55.2 million, an increase of 3.6 percent. Corporate income tax collections increased nearly 20 percent over the same period last year from $203.8 million to $243.9 million.

Overall, total GPR tax collections increased $169.4 million from $2.62 billion to $2.79 billion.

The release from DOR can be seen here.