According to the latest report by the Senate Fiscal Agency, March’s major taxes and net lottery revenue declined 11% from the prior year, totaling $1.8 billion. Additionally, the total collection was $18.1 million below January’s Consensus Revenue Estimating Conference projections.
Fund Collections:
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- General Fund (GF) collections were $25.7 million above prior projections.
- Year-to-date GF collections were $276.7 million above projections.
- School Aid Fund (SAF) collections were $54.1 million below estimates.
- Year-to-date SAF collections were $71.1 million less than projections.
- General Fund (GF) collections were $25.7 million above prior projections.
Revenue:
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- Net income tax revenue totaled $503.9 million, a decline of 27.7% from the prior year.
- Sales and use tax collections totaled $919.4 million, a 4.4% decline from the prior year.
- Sales tax collections declined 9.8% from March 2025.
- Use tax collections increased 18.1% year-over-year.
Please click here to view the full report from the Senate Fiscal Agency.
