South Dakota – Analysts Warn SD Lawmakers Of Dip In Sales, Use Tax Revenues

Both Terwilliger and Mehlhaff agreed on one prediction, though: That sales and use tax collections in Fiscal 2020 will be lower than the Legislature budgeted for in March.

The BFM in its interim report forecasts $1.06 billion in sales and use tax revenue for Fiscal 2020, while the LRC forecasts $1.07 billion. The Legislature budgeted $1.08 billion.

Sales and use tax is the state’s largest source of ongoing revenue, and is an indicator of how much money South Dakotans are spending and the health of the economy.

For the Story:

Aberdeen news
by sarah mearhoff | American News | Capitol correspondent
july 26, 2019