ND tax revenues doing well, despite the pandemic challenges
State revenue collections are still running ahead of the 2019 Legislative forecast.
For the 2019-2021 biennium to date, through May, collections are running about 2.7 percent over forecast, or about $123 million ahead of what was expected.
State budget director Joe Morrissette said he was pleasantly surprised by the numbers.
"There were so many unknowns," Morrissette said. "We didn't know what impact we would see during the pandemic."
Morrissette said restrictions on business activity affected things less severely here than in other states.
"Our sales tax number is still a little bit below the forecast," Morrissette said. "But it's fairly close, considering what we've been through."
Sales tax collections are 3.6 percent below the forecast.
There is one month to go in the biennium. And Morrissette said he’s expecting the state will end the two year period in a very good position.
"That's not just from those on-going revenue sources, but from other transfers, like the Legacy Fund," Morrissette said.