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Monthly Revenue Report Released

Nov 17, 2017

This week, the non-partisan House Fiscal Agency released revenue data for October 2017. Last month, total cash collections were $74.2 million more than October 2016, coming in at $2,924.4 million.  Below are additional highlights from the report:

  • Net income tax revenue – $799 million in revenue last month
  • Net Business taxes – On a fiscal year-to-date basis, collections are $490.6 million higher than the prior year
  • Consumption taxes – $847.5 million collected last month
  • General Fund revenue – Estimated to be $935.9 million last month, which is $79 million below projections. While the FY 2016-17 year-to-date collections are $58.1 million above projections.
  • School Aid Fund revenue – Estimated at $1,878.8 million in October 2017, which is approximately $20 million above estimates. While the FY 2016-17 year-to-date collections are estimated to be $136.5 million above previous estimates.

To read the full 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 www.mlcmi.com or connect with us on LinkedIn and Twitter.