SKY'S LIMIT FOR TAX SURPLUS

What is the state revenue surplus, really?

Wait a day and it might go up. Again.Now the surplus is about $100 million, but Gov. Norm Bangerter warned Thursday that it still could go higher.

Bangerter said the latest sales tax revenues were compiled Thursday, and sales taxes brought in $25 million more than expected.

Bangerter had updated the estimated state income tax surplus on Wednesday, putting it at $73.6 million, give or take $8 million.

So, the governor said, the state's surplus is now approaching $100 million. Several months ago, officials said it could be $30 million, but probably not more.

Bangerter and lawmakers are discussing how the surplus should be returned to taxpayers. Democratic lawmakers don't want a summer special session to return the money; they favor allowing a refund law already passed to take effect.

But Bangerter and many Republican lawmakers want to consider restoring part or all of the deduction for federal income tax to state returns. Updated estimates are that it would take $103 million to $110 million to return that whole deduction.

The final surplus figure should be known in late June or early July.