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October Revenue Report Released

Nov 11, 2016

This week, the nonpartisan House Fiscal Agency released their October 2016 monthly revenue report.  Revenues for the month totaled $2,854.9 million, $96.7 million higher than the prior year.  General Fund revenue was $967.4 million, $31.5 million higher than projections while the School Aid Fund revenue came in $10.9 million below estimates at $1,784.4 million.

Highlights from the report include:

  • Net Income Tax Revenue totaled $815.2 million
  • Net business taxes were $180.2 million
  • Consumption taxes totaled $831.5 million, $56.3 million higher on a year-to-date basis for FY15-16

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.