Tax Credits Now Cost the State's General Fund More than $1 Billion with Another $2 Billion in Future Liabilities

Total individual and corporate income tax credit used+refunded and carryforwards by tax year as of November 2024

$364M
$1B
$387M
$1B
$428M
$1B
$422M
$2B
$490M
$2B
$624M
$2B
$700M
$2B
$679M
$3B
$1B
$2B
2014
2015
2016
2017
2018
2019
2020
2021
2022