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