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Official: Idaho revenue drop due to extended tax deadline

The Idaho Division of Financial Management says the state collected $315 million in April, about $470 million less than expected.

BOISE, Idaho — Editor's note: The video posted above is from an interview with Gov. Brad Little on "Viewpoint," where he discussed the state budget, the new "stay healthy" order, and help for small businesses impacted by the coronavirus pandemic.

Idaho’s general fund revenue in April plummeted from initial forecasts, but officials say that’s because the deadline for paying state income taxes was moved from April 15 to June 15 due to the coronavirus.

Officials with the state Division of Financial Management said Thursday they expect that decreased revenue to bounce back before the new deadline.

Republican Gov. Brad Little extended the deadline to ease the economic hardship caused by the pandemic.

The agency says the state collected $315 million in April, about $470 million less than expected.

The agency also says it appears Idaho will finish the fiscal year in June with a balanced budget.

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The state tax deadline is a month earlier than this year's federal tax deadline because the State of Idaho's fiscal year ends on June 30, while the U.S. government's fiscal year ends on September 30.

RELATED: More than 125,000 Idahoans have filed for unemployment during pandemic, labor department says

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