State Revenue Increases in November

Dec 20, 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.

November 2024’s taxes and net lottery revenue increased 10.5% from the prior year, totaling $2.9 billion. This was $147.7 million more than prior projections according to the monthly revenue report by the Senate Fiscal Agency.

Key Points:

    • Revenue dedicated to the General Fund was $31.8 million more than estimates, while school Aid Fund collections were $103.3 million above projections.
    • Net income tax revenue increased 11.4% from the prior year, totaling $1.1 billion.
    • Withholding payments grew 12.3% from the previous year and $14.5 million higher than estimates.
    • Sales tax receipts decline 1.5% from the previous year, totaling $843.5 million.
    • Use tax collections totaled $234.7 million, an increase of 7.4% from the prior year and $6.2 million above projections.
    • Sales tax collections from motor vehicle sales declined 5.7% from the prior year, totaling $99.9 million.

Please click here to read the full report.

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.

Recent Posts

Last Week on the MLC Blog

Last Week on the MLC Blog

Over the past week, we covered these topics on the MLC Blog… Politics isn’t just parties—it’s people. MLC’s Karli Hensler shared what she learned working in the House: relationships, work ethic & kindness often matter more than party lines. Despite negotiations...

Budget Deadline Passes

Budget Deadline Passes

Despite negotiations between the House, Senate, and the governor’s office, the legislature did not meet the statutory July 1 deadline to complete the state budget for the next fiscal year. The House and Senate both held session on Tuesday this week, intending to pass...

Economic Indicators Report Released

Economic Indicators Report Released

The nonpartisan Senate Fiscal Agency released the April 2025 Michigan Economic Indicators Report. The report provides economic highlights on both the national and state levels. United States: Consumer sentiment fell for the fourth consecutive month by 8.4% from the...

Looking for older articles?

We’ve recently made improvements to our blog to provide a better user experience. If you’re searching for older posts, click here to search our archive.

Michigan Legislative Consultants

Michigan Legislative Consultants
110 W. Michigan Avenue
Suite 500
Lansing, MI 48933
517.372.2560
517.372.0130 fax

1001 Woodward Avenue
Suite 500
Detroit, MI 48226

MLC is proud to be the Michigan member of NASL