State Revenues Reported for April 2023   

The Independent Fiscal Office and state Department of Revenue have released the April 2023 revenue reports. The state collected $5.7 billion in April, the 10th month of the fiscal year, 8.3% above IFO’s official estimate. Fiscal year-to-date general fund collections total $37.9 billion, or 7.1% above IFO’s estimate. Corporate net income and sales and use taxes were all above IFO’s estimates, while personal income tax fell below projections by 1.2%.  

The Motor License Fund received $291 million in April, $4.5 million below estimates. Fiscal year-to-date revenues are 2.8% above estimates. The fund includes liquid fuels taxes and other license, fine, and fee revenues. Click here for the IFO report and here for Revenue’s press release.