The Independent Fiscal Office Wednesday reported state revenues for October were $59 million below revenues in October 2016, but only $9.6 million below the IFO estimates year-to-date.
The IFO said tax revenues coming in were $27.4 million below estimate so far and nontax revenues coming in at $17.8 million above estimate.
Total revenue collections July through October ring in around $9.1 billion.
Click Here for the IFO’s October Monthly Trends Report.
The Department of Revenue reported Sales tax receipts totaled $881.5 million for October. Year-to-date sales tax collections total $3.5 billion.
Personal income tax (PIT) revenue in October was $906.7 million, bringing year-to-date PIT collections to $3.7 billion.
October corporation tax revenue was $92.4 million. Year-to-date corporation tax collections total $709.6 million.
Inheritance tax revenue for the month was $82.9 million, bringing the year-to-date total to $316.6 million.
Realty transfer tax revenue was $46.2 million for October, bringing the fiscal-year total to $176.3 million.
Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $149.9 million for the month, bringing the year-to-date total to $612.6 million.
Non-tax revenue totaled $15.8 million for the month, bringing the year-to-date total to $77.5 million.
In addition to the General Fund collections, the Motor License Fund received $215.5 million for the month. Fiscal year-to-date collections for the fund — which include the commonly known gas and diesel taxes, as well as other license, fine and fee revenues — total $997.3 million.
