FY2021 over $1 billion above estimates, June $45 million over.
Fiscal year 2021 has come to a close as of July 1. Total revenue reports for the year but the Mississippi state budget over $1 billion above sine die estimates.
Total revenue collections for the month of June FY 2021 are $45,284,462 or 6.52% above the sine die revenue estimate. Fiscal YTD revenue collections through June 2021 are $1,049,742,298 or 18.45% above the sine die estimate. Fiscal YTD total revenue collections through June 2021 are $924,496,097 or 15.90% 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 June 30, 2021.
June FY 2021 General Fund collections were $26,575,442 or 3.47% below June FY 2020 actual collections. Sales tax collections for the month of June were below the prior year by $96.2M. Individual income tax collections for the month of June were below the prior year by $21.9M. Corporate income tax collections for the month of June were above the prior year by $90.0M.
You can read the full report below: