As anticipated due to the COVID-19 pandemic, revenues were drastically down for April 2020.
Total revenue collections for the month of April FY 2020 are $244,027,241 or 29.51% below the sine die revenue estimate. Fiscal YTD revenue collections through April are $26,348,813 or 0.57% below the sine die estimate. Fiscal YTD total revenue collections through April 2020 are $108,574,922 or 2.31% below 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 $126,910,814 below the year-to-date FY 2020 revised revenue estimate as of April 2020. The FY 2020 Revised Revenue Estimate is $5,996,200,000.
The graph above 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 April 30, 2020.
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