SALT LAKE CITY — Budget forecasters are projecting that Utah’s tax revenues will grow by $100 million in the coming year.
Chief legislative economist Andrea Wilko told lawmakers Tuesday that Utah should recover all of the jobs lost during the recession by the middle of 2013.
She says corporate and income taxes are expected to bring in an estimated $70 million more than expected. Those funds are set aside for public and higher education. Increased sales tax, liquor sales and insurance premiums are also expected to add $30 million to the state’s general fund.
The Salt Lake Tribune reports that state tax revenues in the general and education funds are expected to top $5 billion for the first time in five years.