Monthly Revenue Increases Year-Over-Year

Feb 16, 2024

by Liz Gullett

As MLC’s Communications and Social Media Manager, Liz Gullett keeps clients informed and up-to-date on the goings on in Lansing and the Capitol.

The Senate Fiscal Agency released the January 2023 revenue report, which showed last month’s tax and lottery revenue totaled $3.2 billion, an increase of 8.8% from the prior year.

Key Points:

    • Tax revenue was $42.1 million below the projected amount, due to less-than-expected collections from a number of taxes.
    • General Fund tax collections were $11.7 million above projections, while School Aid Fund collections were $45.9 million less than anticipated.
    • Net Income Tax revenue totaled $1.6 billion, a slight increase of 0.4% from the prior year.
    • Sales Tax receipts were $912.7 million, which was 3.1% less than January 2023 and $19.9 million below projections.
    • Use Tax collection for vehicle sales declined 14.3% from the prior year.
    • Michigan Business Tax collections were a negative $169.1 million due to refunds exceeding payments.

To read the full monthly report, please click here.

Michigan Legislative Consultants is a bipartisan lobbying firm based in Lansing, Michigan. Our team of lobbyists and procurement specialists provide a wide range of services for some of the most respected companies in America. For more on MLC, visit or connect with us on LinkedIn and Twitter.

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