Tax collections are cumulatively up $25.7 million from a February forecast with collections for March coming in just $12.5 million higher than expected.
The cumulative growth in collections assumes a one-time assessment payment of $20.7 million that was not included in the forecast. Therefore, actual growth in total collections for March was $5 million.
The report issued by the Economic and Revenue Forecast Council also notes Washington personal income grew 3.2 percent in 2013 compared to 2.6 percent for the U.S. as a whole, while Washington job growth and housing construction has softened in early 2014.