General Fund Revenues - June 2026
By Adrian Buckner , Budget Analyst | 1 day ago
General Fund revenue finished well ahead of projections. Fiscal year-to-date, General Fund revenues were $48.9 billion, $1.13 billion (2.4%) above estimate. June’s General Fund collections were $3.95 billion, $210.3 million (5.6%) above estimate, driven primarily by overperformance in Corporate Net Income Tax, Selective Business Tax, Consumption Tax, Inheritance Tax, and Personal Income Tax Non-withholding.
Year-to-date, Personal Income Tax (PIT) collections are $20 billion, $410.9 million (2.1%) above estimate. PIT receipts in June overperformed estimate by $15.4 million (0.9%) for a total of $1.7 billion. The period’s overperformance was led by non-withholding collections which were above estimated by $19.9 million (3.4%) with year-to-date non-withholding collections at $5.7 billion or $362.1 million (6.8%) above estimate. Inheritance Tax revenue was $154.5 million, $14.7 million (10.5%) higher than expected for June. Inheritance Tax collections are $1.8 billion year-to-date, which is $103.9 million (5.9%) ahead of estimate. Lastly, Nontax revenue collections for June were $28.2 million, $31.1 million (52.5%) below estimate. Year-to-date, Nontax revenue is $1.9 billion, which exceeds the estimate by $100.4 million (5.5%).
Sales and Use Tax (SUT) outperformed June’s estimate. SUT collections totaled $1.3 billion for the month, exceeding projections by $57.3 million (4.4%) and year-to-date SUT collections remain $176.4 million (1.2%) ahead of the revenue estimate at $15.4 billion.
Additionally, Corporate Net Income Tax (CNIT) collections overperformed estimates for the month and continued to outperform year-to-date. June CNIT receipts were $956.9 million, which was $136.4 million (16.6%) above expectations. The year-to-date CNIT revenue outperformed estimates by $233 million, with collections totaling $4.9 billion.
| 2025/26 General Fund Revenues |
| ($ in Millions) |
| |
June Revenues |
Year-to-Date Revenues |
| |
Month Estimate |
Month Revenues |
$ Chng |
% Chng |
YTD Estimate |
YTD Revenues |
$ Chng |
% Chng |
| General Fund Total |
$3,748.7 |
$3,959.0 |
$210.3 |
5.6% |
$47,787.6 |
$48,925.7 |
$1,138.1 |
2.4% |
| Tax Revenue |
$3,689.4 |
$3,930.8 |
$241.4 |
6.5% |
$45,948.8 |
$46,986.5 |
$1,037.7 |
2.3% |
| Corporation Taxes: |
| Corporate Net Income Tax |
$820.5 |
$956.9 |
$136.4 |
16.6% |
$4,741.2 |
$4,974.2 |
$233.0 |
4.9% |
| Gross Receipts Tax |
$2.9 |
$3.5 |
$0.6 |
19.0% |
$1,383.6 |
$1,382.8 |
($0.8) |
-0.1% |
| Public Utility Realty Tax |
$0.1 |
$0.4 |
$0.3 |
345.1% |
$47.0 |
$54.4 |
$7.4 |
15.8% |
| Insurance Premiums Taxes |
($515.0) |
($494.5) |
$20.5 |
4.0% |
$608.3 |
$575.6 |
($32.7) |
-5.4% |
| Financial Institution Taxes |
$7.8 |
$9.1 |
$1.3 |
17.0% |
$393.4 |
$453.2 |
$59.8 |
15.2% |
| Consumption Taxes: |
| Sales and Use Tax |
$1,305.4 |
$1,362.7 |
$57.3 |
4.4% |
$15,317.5 |
$15,493.9 |
$176.4 |
1.2% |
| Cigarette Tax |
$73.3 |
$67.4 |
($5.9) |
-8.1% |
$547.7 |
$554.8 |
$7.1 |
1.3% |
| Other Tobacco Products Tax |
$10.6 |
$11.0 |
$0.4 |
4.2% |
$131.3 |
$138.1 |
$6.8 |
5.1% |
| Malt Beverage Tax |
$1.7 |
$1.9 |
$0.2 |
12.9% |
$18.8 |
$19.3 |
$0.5 |
2.6% |
| Liquor Tax |
$36.0 |
$35.2 |
($0.8) |
-2.1% |
$443.2 |
$439.2 |
($4.0) |
-0.9% |
| Other Taxes: |
| Personal Income Tax |
$1,693.1 |
$1,708.5 |
$15.4 |
0.9% |
$19,631.8 |
$20,042.7 |
$410.9 |
2.1% |
| Realty Transfer Tax |
$68.6 |
$71.7 |
$3.1 |
4.5% |
$639.0 |
$661.3 |
$22.3 |
3.5% |
| Inheritance Tax |
$139.8 |
$154.5 |
$14.7 |
10.5% |
$1,747.1 |
$1,851.0 |
$103.9 |
5.9% |
| Gaming Taxes |
$28.0 |
$25.0 |
($3.0) |
-10.6% |
$390.6 |
$442.1 |
$51.5 |
13.2% |
| Minor and Repealed |
$16.6 |
$17.5 |
$0.9 |
5.7% |
($91.7) |
($96.2) |
($4.5) |
-4.9% |
| Non-Tax Revenue |
$59.3 |
$28.2 |
($31.1) |
-52.5% |
$1,838.8 |
$1,939.2 |
$100.4 |
5.5% |
|
|
|
|
|
|
|
|
|