Major taxes and net lottery revenue in May 2025 totaled $2.6 billion, according to the monthly report by the Senate Fiscal Agency. While the total was a 1.5% decline from May 2024, last month’s revenue was about $42 million more than previous estimates.
Highlights from the report include:
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- General Fund collections came in $1 million more than expected, and School Aid Fund tax collections also came in higher by $29.1 million.
- Net income tax revenue totaled $1.1 billion, a 0.6% decline from the prior year and $21 million below estimates.
- Sales and use tax receipts came in at $1.1 billion, a 2.1% decline from May 2024, but $29.5 million more than projected.
- Motor vehicle sales tax collections declined 1.7% from the prior year.
To read the full May 2025 report, please click here.
