Despite worries from lawmakers that the first months of the year would be low, collections are way up for FY 2021 and January.
Total revenue collections for the month of January FY 2021 are $121,009,993 or 30.21% above the sine die revenue estimate. Fiscal YTD revenue collections through January 2021 are $446,283,343 or 14.31% above the sine die estimate. Fiscal YTD total revenue collections through January 2021 are $317,238,064 or 9.77% above the prior year’s collections. The FY 2021 Sine Die Revenue Estimate is $5,690,700,000.
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-todate actual collections to prior year actual collections, as of January 31, 2021.
You can read the full report below: