Budget Analysis 2007 Biennium 2005 Special Session
Budget Analysis 2007 Biennium 2005 Special Session
Montana. Legislature
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In the 2005 biennium, actual audit collections, consisting of audit payments and interest and penalty payments, equaled $28.8 million ($14.2 million in fiscal 2004 and $10.6 million in fiscal 2005). The DOR estimates were used to create the recommendation, however the estimates are significantly understated when considering past collections. Additionally, the high audit collections in the 2005 biennium combined with the conservative estimates, distort the projected trend and make total growth a...ppear lower than actually anticipated. US Pre-Tax Profits Data -10% -20% 30% 1969 1971 1973 1975 1977 1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 Calendar Year —■—Actual —♦—Forecast —•—Percent Change U.S. pre-tax corporation profits, as provided in the November 2005 Global Insight publication, are used in the development of the corporation license tax estimate. Consequently, the trend associated with the corporation license tax estimate is similar to the trend presented in the pre-tax profits series.
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