General Fund revenue was $57.6 million, or 1.5 percent, less than anticipated. Fiscal year-to-date General Fund collections total $29 billion, which is $164.1 million, or 0.6 percent, above estimate.
The April shortfall is mainly attributable to a timing issue. The department in February received $85.1 million in liquor store profits. The deposit was anticipated in April, rather than in February, which created the artificial deficit in April collections.
Sales tax receipts totaled $893.8 million for April, $34.9 million above estimate. Year-to-date sales tax collections total $8.5 billion, which is $21.5 million, or 0.3 percent, more than anticipated.
Personal income tax (PIT) revenue in April was $2.1 billion, $8.9 million above estimate. This brings year-to-date PIT collections to $11.3 billion, which is $124 million, or 1.1 percent, above estimate.
April corporation tax revenue of $313.2 million was $8.3 million above estimate. Year-to-date corporation tax collections total $4 billion, which is $143.6 million, or 3.4 percent, below estimate.
Inheritance tax revenue for the month was $100.1 million, $13.8 million above estimate, bringing the year-to-date total to $818.9 million, which is $3 million, or 0.4 percent, below estimate.
Realty transfer tax revenue was $41.8 million for April, $4.2 million above estimate, bringing the fiscal-year total to $416.6 million, which is $8.4 million, or 2.1 percent, more than anticipated.
Other General Fund tax revenue, including cigarette, malt beverage, liquor and gaming taxes, totaled $148.6 million for the month, $36.8 million below estimate and bringing the year-to-date total to $1.4 billion, which is $55.1 million, or 3.8 percent, below estimate.
Non-tax revenue totaled $199.5 million for the month, $90.9 million below estimate, bringing the year-to-date total to $2.5 billion, which is $211.9 million, or 9.4 percent, above estimate.
In addition to the General Fund collections, the Motor License Fund received $307 million for the month, $56.7 million above estimate. 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 $2.4 billion, which is $68.4 million, or 2.9 percent, above estimate.
