October tax revenue misses target

BOISE (AP) - Idaho tax revenue in October narrowly missed targets, as sales taxes receipts continued to lag forecasts.

The Division of Financial Management reported that collections for the month were $209 million, $1.6 million below goals.

For the full year, Idaho revenue is $852 million, about $10.8 million below the forecast.

With revenue only about a percent behind forecasts for the full year, however, Idaho remains on track to post a budget surplus when fiscal year 2012 ends next June.

The biggest reason for October's shortfall?

Sales tax receipts were $4.1 million below the forecast, pushing the fiscal-year shortfall in this category to $14 million as sales tax receipts haven't hit monthly targets since July.

Some collection categories did slightly better than forecast, including corporate and individual income taxes.