We have our first state revenue report reflecting the impact of coronavirus on South Dakota’s fiscal situation. Sales tax collected in March and sent to the state in April was actually up 4.5% from last year, $85.4 million, suggesting all of our binge-buying of toilet paper in March may have made up for the last couple weeks of lost restaurant and bouncy-house revenue. But licenses, permits, and fees plunged 91.4%, from $23.4 million in April 2019 to $722 thousand this April (just another timing glitch, Governor Kristi Noem assures us). Add seven-figure drops in lottery, net transfers, and bank franchise tax, and we find South Dakota took in $30.2 million less this April than last April.
Pre-coronavirus, the 2020 Legislature guesstimated that the state would take in $18.1 million more than it did in April:
The April report shows us in the red for the fiscal year by $5.56 million. The Bureau of Finance and Management warns that we’ll see a much bigger hole in the budget in the next monthly report, which will factor in the full effects of the shutdown in April:
…while limited actions were taken in mid-March, most of the steps taken to reduce the spread of COVID-19 were not taken until late March leading to a varied impact on sales tax revenues.
…A larger impact is anticipated in April as this will be the first full month that orders, proclamations, and ordinances related to the virus will have been in effect. Looking forward to the late spring and summer months continued large impacts are anticipated even with the gradual lifting of restrictions as tourism related travel is expected to be significantly impacted [Bureau of Finance and Management, “COVID-19’s Delayed Impact on South Dakota,” retrieved 2020.05.05].
Even when we get the full April data next month, legislators coming to Pierre for the likely Special Session on the budget will still be doing a lot of guessing with respect to how much South Dakota will be able to spend on education, roads, and public health for the rest of this pandemic year.
Budget shortfalls?
Legislators will be doing a lot of guessing?
What else is new?
This April, Colorado generated 24.2
MILLION dollars in revenue from legally purchased and adult consumed cannabis sales.
Total monthly…..monthly tax and fee
revenue from these sales have never
been less than 20 MILLION a month.
They are not spending money on additional police, additional drug dogs, additional storage facilities or other B. S. fluff.
Trump thinks that our state is all stone
So he doesn’t torch our beautiful Black Hills on the 4th of July, but if
He and the rest of his GOP dopes have their way , we will stay in the stone ages for a long time.
Please let the Dope Queen of Delusion know that 1950 is not coming back to South Dakota any time soon.
The last time I checked, it’s 2020.
Why would the Bank Franchise Tax have dropped so much?
Can we classify this as a rainy day?
Mr. o, perhaps it has something to do with the IRS changing up tax filing deadlines and that spilled over to bankers. Ever the procrastinators, bankers probably don’t pay their taxes until they have to.
Tax the estate trust industry. B.I.T.F.D.
SD, I’m sorry to say, you are so screwed. This is what comes from having a monolithic GOP economy in this time.
Wonder if the queen can balance the budget with out fed aid
.
Couldn’t we just raise tariffs on some country we haven’t taxed yet to make up for the shortfall? Perhaps another trickle down tax cut would boost the economy. How about an executive order signed with trump’s new Sharpie canceling social security and medicare? So many ingenious ways the GOP hasn’t tried yet. Stay tuned…
Tax the trust & estate industry. It’s more secretive than are off-shore bank accounts. More secretive than Swiss banking. It’s a den for fraud.
https://flip.it/IUpaUJ
John, its the next big thing.
So SD is a poor state. In addition, COVID-19 is cratering the state budget. What is Gov. Kruel Kristi’s response? To invite Fireworks Fanboy to Mt. Rushmore. First though, the proactive Forest Service must conduct a prescribed burn:
The exact price tag for last week’s prescribed fire has not been tabulated, but Maureen McGee-Ballinger, the Memorial’s Chief of Interpretation and Education, told us the estimated expenditure was $30,000. It was conducted by a total of 54 personnel, including 24 firefighters from the National Park Service, 8 from the State of South Dakota, 6 from the State of North Dakota, 8 from the US Fish and Wildlife Service, 4 from the Department of Defense and 2 local volunteer fire department engines.
This was the first broadcast burn ever conducted at the Memorial. One of the objectives in the Incident Action Plan for the project was to “reduce the likelihood of unwanted ignitions in this area.”
is.gd/GKYBBG
______________________
$30,000 gone already and that’s just a drop in the bucket of what KK’s arse puckering will cost the fine tax paying citizens. She’s using your taxes to buy a position in The trump Family Crime Syndicate.
Remember that when you need roads repaired, your local school closes, or your taxes go up to keep sewage from flowing into your basement.