Total revenue collections for the month of February FY 2020 are $26,423,237 or 8.73% above the sine die revenue estimate. Fiscal YTD revenue collections through February are $188,386,864 or 5.56% above the sine die estimate. Fiscal YTD total revenue collections through February 2020 are $163,598,168 or 4.79% above the prior year’s collections. The FY 2020 Sine Die Revenue Estimate is $5,858,400,000.
On November 22, 2019, the Joint Legislative Budget Committee revised the FY 2020 revenue estimate upward by $137.8M. FY 2020 year-to-date actual collections are $147,368,863 above the year-to-date FY 2020 revised revenue estimate as of February 2020. The FY 2020 Revised Revenue Estimate is $5,996,200,000.
The graph below compares the actual revenue collections to the sine die revenue estimate for each of the main tax revenue sources. The figures reflect the amount the actual collections for Sales, Individual, Corporate, Use and Gaming taxes were above or below the estimate for the month and fiscal year-to-date. The graph also compares fiscal year-to- date actual collections to prior year actual collections, as of February 29, 2020.
February FY 2020 General Fund collections were $2,882,021 or 0.87% below February FY 2019 actual collections. Sales tax collections for the month of February were above the prior year by $4.0M. Individual income tax collections for the month of February were above the prior year by $11.8M. Corporate income tax collections for the month of February were below the prior year by $2.5M.
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