General Fund Revenues - April 2026
By Adrian Buckner , Budget Analyst | 1 day ago
General Fund revenue continues to remain ahead of projections. Fiscal year-to-date, General Fund revenues were $41.6 billion, $992.7 million (2.4%) above estimate. April’s General Fund collections were $6.7 billion, $518.9 million (8.4%) above estimate, driven primarily by outperformance in Corporate (Corporate Net Income, Gross Receipts, Utility Property, Financial Institutions) Consumption (Sales and Use), and Other Taxes (Personal Income) tax receipts.
Year-to-date, Personal Income Tax (PIT) collections are $17.09 billion, $411.04 million (2.5%) above estimate. PIT receipts in April exceeded the estimate by $200.3 million (5.6%) for a total of $3.7 billion. The period’s outperformance was led by non-withholding collections which were above estimated by $201.4 million (9.1%) with year-to-date non-withholding collections at $367.2 million (8.0%) above estimate. Inheritance Tax revenue was $175.3 million, $14.7 million (9.2%) higher than expected for April. Inheritance Tax collections are $1.5 billion year-to-date, which is $88.05 million (6.0%) ahead of estimate. Lastly, Nontax revenue collections for April were $509.9 million, $127.2 million (33.2%) higher than the estimate. Year-to-date, Nontax revenue is $1.8 billion, which exceeds the estimate by $129.5 million (7.5%).
Sales and Use Tax (SUT) outperformed April’s estimate. SUT collections totaled $1.3 billion for the month, exceeding projections by $25.4 million (1.9%) and year-to-date SUT collections remain $82.4 million (0.6%) ahead of the revenue estimate at $12.7 billion.
Additionally, Corporate Net Income Tax (CNIT) collections outperformed estimates for both the month and the year-to-date. April CNIT receipts were $701.3 million, which was $170.1 million (32.0%) above expectations. Consequently, year-to-date CNIT revenue outperformed estimates by $199.9 million, with collections totaling $3.7 billion.
| 2025/26 General Fund Revenues |
| ($ in Millions) |
| |
April Revenues |
Year-to-Date Revenues |
| |
Month Estimate |
Month Revenues |
$ Chng |
% Chng |
YTD Estimate |
YTD Revenues |
$ Chng |
% Chng |
| General Fund Total |
$6,203.5 |
$6,722.5 |
$519.0 |
8.4% |
$40,668.1 |
$41,660.9 |
$992.8 |
2.4% |
| Tax Revenue |
$5,820.8 |
$6,212.5 |
$391.7 |
6.7% |
$38,949.5 |
$39,812.8 |
$863.3 |
2.2% |
| Corporation Taxes: |
| Corporate Net Income Tax |
$531.2 |
$701.4 |
$170.2 |
32.0% |
$3,590.6 |
$3,790.5 |
$199.9 |
5.6% |
| Gross Receipts Tax |
$2.4 |
$6.2 |
$3.8 |
157.3% |
$1,382.5 |
$1,381.2 |
($1.3) |
-0.1% |
| Public Utility Realty Tax |
$16.1 |
$27.1 |
$11.0 |
68.3% |
$22.2 |
$32.8 |
$10.6 |
47.7% |
| Insurance Premiums Taxes |
$115.1 |
$82.0 |
($33.1) |
-28.7% |
$1,121.1 |
$1,068.8 |
($52.3) |
-4.7% |
| Financial Institution Taxes |
$6.6 |
$7.8 |
$1.2 |
18.9% |
$383.5 |
$440.3 |
$56.8 |
14.8% |
| Consumption Taxes: |
| Sales and Use Tax |
$1,347.8 |
$1,373.2 |
$25.4 |
1.9% |
$12,700.6 |
$12,783.1 |
$82.5 |
0.6% |
| Cigarette Tax |
($57.5) |
($54.2) |
$3.3 |
-5.8% |
$413.0 |
$418.1 |
$5.1 |
1.2% |
| Other Tobacco Products Tax |
$9.9 |
$11.0 |
$1.1 |
11.4% |
$109.9 |
$116.0 |
$6.1 |
5.5% |
| Malt Beverage Tax |
$1.4 |
$1.8 |
$0.4 |
26.4% |
$15.5 |
$15.6 |
$0.1 |
0.7% |
| Liquor Tax |
$34.3 |
$34.8 |
$0.5 |
1.3% |
$369.0 |
$366.5 |
($2.5) |
-0.7% |
| Other Taxes: |
| Personal Income Tax |
$3,557.4 |
$3,757.7 |
$200.3 |
5.6% |
$16,680.4 |
$17,091.4 |
$411.0 |
2.5% |
| Realty Transfer Tax |
$65.6 |
$52.5 |
($13.1) |
-20.0% |
$509.4 |
$529.8 |
$20.4 |
4.0% |
| Inheritance Tax |
$160.6 |
$175.4 |
$14.8 |
9.2% |
$1,456.2 |
$1,544.3 |
$88.1 |
6.0% |
| Gaming Taxes |
$27.5 |
$34.8 |
$7.3 |
26.5% |
$326.2 |
$372.3 |
$46.1 |
14.1% |
| Minor and Repealed |
$2.4 |
$1.0 |
($1.4) |
-57.7% |
($130.6) |
($137.9) |
($7.3) |
-5.6% |
| Non-Tax Revenue |
$382.7 |
$509.9 |
$127.2 |
33.2% |
$1,718.6 |
$1,848.1 |
$129.5 |
7.5% |