FRANKFORT, Ky. — The Office of State Budget Director reported today that January’s General Fund receipts totaled $1,344.8 million. The revenues were 4.4 percent more than what was received in January of last year, an increase of $56.8 million. January’s sales tax receipts hit a record high at $586.2 million. Large increases also occurred due to the new portion of the individual income tax, known as the pass-through entity tax, payroll withholding receipts, and interest income. The new PTE tax creates a dollar-for-dollar refundable credit on upcoming individual income tax returns.
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