Florida’s Office of Economic and Demographic Research (EDR) reported that general revenue collections for May 2022 were $741.8 million (21.0 percent) over the estimates made in January 2022. In addition, consumer confidence among Floridians rebounded in June while national consumer sentiment fell sharply.
Revenues generated from the sales of automobiles was the highest above the projections among the six sales tax categories coming in $148.75 million (31.1 percent) over the May estimate.
Also contributing to the higher than projected sales tax revenue were the Tourism and Business categories, both surpassing estimates by over 26%.
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