STATE OF SOUTH CAROLINA
REVENUE STATUS SUMMARY
JULY - AUGUST JULY - AUGUST FY ‘97
ACTUAL ACTUAL ESTIMATED PERCENT
1995-96 1996-97 REVENUE ACTUAL TO
DESCRIPTION (02 Months) (02 Months) 1996-97 ESTIMATE (a)
BUDGETARY GENERAL FUND
Retail Sales Tax $ 127,517,879 $ 134,665,395 $ 1,590,833,134.00 8% (b)
Casual Sales Tax 1,987,947 843,096 14,474,032.00 6% (b)
Total Sales Tax (4%): 129,505,826 135,508,491 1,605,307,166.00 8%
Individual Income Tax 323,337,278 322,341,792 1,835,918,929.00 18%
Corporate Income Tax 12,995,876 10,641,796 256,080,335.00 4%
Combined Income Tax: 336,333,154 332,983,588 2,091,999,264.00 16%
Beer and Wine Tax 7,143,471 7,806,566 78,090,076.00 10% (b)
Departmental Revenue 4,437,162 6,716,370 42,369,273.00 16%
Insurance Tax 1,369,728 1,706,120 85,647,626.00 2%
All Other Sources 55,313,768 42,248,533 462,517,490.00 9%
Miscellaneous Sources 3,720,519 6,338,155 63,953,573.00 10%
Totals Budgetary General Fund 537,823,628 533,307,824 4,429,884,468.00 12%
ACCOMMODATIONS TAX (2%) $ 6,786,342 $ 6,056,279 N/A N/A
(a) The fiscal month ended August 31, 1996 represents 16.67% of the fiscal year, except for those taxes in (b)
for which this period represents 8.33% of the fiscal year.
(b) Indicates taxes recorded on a year-end modified accrual basis.
STATE OF SOUTH CAROLINA
BUDGETARY GENERAL FUND REVENUE
SUPPLEMENTAL DATA
1996 - 97 Estimated General Fund Revenue $ 4,429,884,468.00
August 31, 1996 Actual Revenue $ 359,331,582.61
July 1 thru August 31, 1996 Actual Revenue $ 533,307,824.47
1. REVENUES RECEIVABLE: August 31, 1996
Mental Health Department - Patient Fees,
Transfers and Medicaid Reimbursement $ 681,964.00
State Auditor - Medicaid Assistance Audits 118,643.89
Insurance Department - Insurance Tax 15,642,516.88
TOTAL REVENUES RECEIVABLE $ 16,443,124.77
2. COLLECTION COSTS PAID: July 1 through August 31, 1996
Department of Revenue Casual Sales Tax Collection Costs:
Payments to Department of Natural Resources $ 0.00

Last Update: 9/17/96

Name: Jeff Davis