When it comes to state revenue collections, the picture is mixed and that could cause complications for the upcoming session when it comes to crafting a budget.

According to the State Budget Office….

  • General Fund revenues for November totaled $998.3 million, which is $4.3 million (0.4%) above estimate based on the December 17, 2015 forecast, but $56.2 million (5.3%) below revenue in November 2015.
  • Sales tax collections totaled $599.5 million for November, which is $14.3 million (2.3%) below the monthly estimate but $6.7 million (1.1%) above revenue in November 2015.
  •  Individual income tax collections totaled $352.5 million for November, which is $28.9 million (8.9%) above the monthly estimate but $52.3 million (12.9%) below revenue in November 2015 due to the extra Friday of processing in November 2015 versus November 2016.
  •  Corporate tax collections were negative $18.0 million for November, which is $18.5 million (4040.3%) below the monthly estimate and $16.4 million (1015.4%) below revenue in November 2015.
  •  Riverboat wagering collections totaled $20.7 million for November, which is $0.5 million (2.6%) above the monthly estimate but $0.5 million (2.5%) below revenue in November 2015.
  •  Racino wagering collections totaled $7.1 million for November, which is $0.6 million (9.3%) above the monthly estimate and equaled the amount of revenue collected in November 2015.

Year-to-date General Fund collections totaled $5.761.0 billion, which is $71.4 million (1.2%) below the December 2015 revenue forecast but $136.0 million (2.4%) above collections through the same period in the prior fiscal year.   Sales tax collections totaled $3.099.8 billion, which is $88.6 million (2.8%) below the December 2015 forecast but $82.2 million (2.7%) above collections through the same period in the prior fiscal year.

Year-to-date individual income tax collections totaled $2.119.0 billion, which is $63.4 million (3.1%) above the December 2015 forecast and $80.2 million (3.9%) above collections through the same period in the prior fiscal year.   And year-to-date corporate tax collections were $189.4 million, which is $57.2 million (23.2%) below the December 2015 forecast and $24.4 million (11.4%) below collections through the same period in the prior fiscal year.