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June07

Revenue collection remains ahead with one month to go

Revenue for the fourth and fifth months of 2018 found the black and put fiscal year 2018 a positive final month away from collections outpacing estimates.   S.D. Bureau of Finance and Management reported April’s collections coming in $4.2 million above estimates with the Bank Franchise Tax ($4.7 million) being the month’s biggest winner while
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December07

Declining revenue collection results in no proposed inflationary increase for K-12

Due declining revenue in South Dakota, Gov. Dennis Daugaard proposed no inflationary increase for K-12 education for fiscal year 2019 during his budget address on Tuesday (12/5).   “I cannot recommend inflationary increases, at all,” Gov. Daugaard said, adding that funding for education for the 2018-19 school year will be “tied to increasing student enrollment”
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April28

Revenue collection remains major issue

Since the start of 2017 revenue reports have not been rosy.   That tepid trend continued during the April meeting of the legislature’s Executive Board. S.D. Legislative Research Council Fiscal Analyst Jeff Mehlhaff informed board members the state’s general fund revenue is down $3 million from “where we anticipated being” based on the restructured revenue estimates
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April17

Revenue collection remains behind in South Dakota

Revenue in South Dakota is not on the rise.   A recently released report by the South Dakota Bureau of Finance and Management noted general fund collections for fiscal year 2017 remain lower than expected; even after estimates were recalculated and adopted by the legislature.   Collections in March came in nearly $4 million lower
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December22

Collections well below projections in latest revenue report

South Dakota’s avoided the worst of winter’s coldest weather, thus far, but the state’s revenue collection last month was below zero, per se.   November’s reported revenue collections came in lower than any other month thus far in fiscal year 2018 with actual collections coming in nearly $17 million lower than the projection adopted by
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June21

Supreme Court sides with S.D. in online sales tax collection

South Dakota earned victory in the argument over online sales tax collection.   In a 5-4 decision, members of the U.S. Supreme Court sided with South Dakota in its challenge that states can collect sales tax from online retailers. The high court’s decision comes two months after Attorney General Marty Jackley presented the state’s case
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April14

Revenue figures revert to the red in March

Revenue figures reverted to the red in March.   S.D. Bureau of Finance and Management reported revenue for the third month of 2018 was nearly $2 million under projections adopted by the legislature during session.   Sales Tax collections were $2.4 million less than projected for the month with Bank Franchise Tax and Unclaimed Property
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November09

Revenue figures dip in October

South Dakota grabbed a rebound in revenue numbers in September, but saw the figures tipped out of bounds in October.   October’s revenue figures came in nearly $5.6 million lower than the figure set by legislative projections adopted earlier this year. October’s loss comes on the heels of last month’s $3.5 million uptick on projections.
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January21

DOR discusses online sales tax revenue

Online sales tax revenue received more attention during the second week of legislative session.   The Senate Taxation committee welcomed Department of Revenue Secretary Andy Gerlach to their meeting on Wednesday (1/18) to discuss a variety of subjects that included online sales tax.   One of the first questions asked of Sec. Gerlach was about
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February21

Rev. projections pose possible problem for proposed funding increase

South Dakota’s revenue projections point to possible trouble for schools to maintain the proposed one percent increase in funding for next year.   Legislative appropriators adopted revenue projections coming in at $27.7 million less than what was proposed during December’s budget address. The main culprit of the reduction in revenue was the state’s sales and
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