The $747.8 million of state general fund collections in July was more than $16 million above what was expected in the first month of fiscal 2013 when the state budget was adopted in May and $18 million more than in July 2011.
The Joint Legislative Budget Committee said last week that state revenues have grown from previous year collections in 22 of the last 24 months.
The sales tax generated $402.5 million in July, almost $10 million more than expected. Sales tax revenue includes $81 million from the 1% tax due to expire at the end of May 2013.
The individual income tax generated $288 million in July, almost $21 million more than expected.
The only weakness in collections came in the highway user taxes, which includes fuels taxes, registration fees, and commercial carrier fees. Revenues of $97.6 million were down $3.4 million from July 2011 collections.
Initial numbers indicate that the state ended fiscal 2012 with an ending balance of at least $379 million, the report said.
The fiscal 2012 surplus is expected at approximately $400 million when the official estimate is released in mid-September.