Revenue from major taxes and net lottery revenue totaled $4.1 billion in October, a 3.5% increase from the prior year. The collections were $7.1 million higher than prior projections.
Key Points:
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- General Fund tax collections were $16.7 million less than projected, while School Aid Fund tax collections were $21.9 million higher.
- Fiscal year-to-date collections for the General Fund were $458.7 million higher than forecasted and the School Aid Fund totaled $69.9 million higher.
- Sales tax receipts were $893.8 million last month, which is 1.8% less than the prior year and $3.7 million below estimates.
- Use tax collections totaled $238.4 million, a 5.6% increase from the prior year.
- State Education Tax collections increased 12.4% from the prior year and were $29 million more than forecasted.
Please click here to read the full monthly revenue report by the Senate Fiscal Agency.
