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SD Top Economist Details Fading Tax Revenues

SD Top Economist Details Fading Tax Revenues

Photo: WNAX


Members of the Executive Board of the South Dakota legislature heard again about the tax problems facing the state. The board met Monday in Pierre.
Jim Terwilliger,Chief Economist for the Bureau of Finance and Management, says take out the half cent sales tax increase of last year, and the trend is down…..

Terwilliger says the year to date sales tax reports are consistent…..

Terwilliger says they see a few main drivers of the lower than forecast sales tax trend…..

Member of the board expressed concerns that the lower than expected revenues will become more of a problem in future budgets.

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