Monthly Revenue Declines Year Over Year

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:

• • 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.

Revenue:

• • 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.