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Monthly State Revenue Watch

Updated August 2014

Data on net state revenue collections are presented in the tables below and shown both by month of collection and type of revenue source. All state revenues are included, such as revenues accruing to the state’s General Revenue Fund, Available School Fund, State Highway Fund, Property Tax Relief Fund, etc.

Some funds, including Trust Funds, Suspense Funds and the Unemployment Trust Fund, and funds held outside the State Treasury are not included in the report. Trust Funds are those funds created to account for assets held by the state in a trustee capacity for individuals, private organizations or other governmental entities and are therefore not available for the Legislature to appropriate for state spending. An example of trust funds are those that temporarily hold local sales taxes, remitted along with state sales taxes, prior to their allocation back to cities, counties or transit authorities.

Net revenue is gross revenue less any discounts, allowances, adjustments, or refunds allowed by law. Sources of tax revenue include the state sales tax, motor vehicle-related taxes, the franchise tax, the state’s primary business tax, and taxes on motor fuels. Sources of revenue other than taxes include fees and the state lottery.

Data is presented on a cash-basis and is shown on a monthly basis but not all revenues are remitted monthly. Firms remitting sales tax may do so monthly, quarterly, or annually generally depending on taxpayer size. The franchise tax is primarily remitted just once a year in May.

This information will be updated monthly.

Fiscal 2014
Net State Revenue by Source – All Funds Excluding Trust

(Amount in thousands of dollars)

Tax Collections
by Major Tax
Sep.
2013
Oct.
2013
Nov.
2013
Dec.
2013
Jan.
2014
Feb.
2014
Mar.
2014
Apr.
2014
May
2014
Jun.
2014
Jul.
2014
YTD Total % Change
YTD vs. Last Year
Dec. 2013
CRE Estimate
Sales Tax $2,020,269 $2,145,817 $2,412,279 $2,257,478 $2,311,811 $2,213,237 $2,098,297 $2,283,607 $2,461,518 $2,254,355 $2,348,530 $24,807,197 5.36% $26,840,354
% change 2.75% 5.36% 2.81% 3.90% 8.36% 5.83% 5.63% 5.64% 8.51% 3.71% 6.34%
Motor Vehicle Sales/Rental Taxes $335,352 $381,415 $321,532 $306,417 $348,514 $344,448 $365,698 $242,611 $363,977 $387,758 $414,519 $3,812,240 9.02% $4,084,004
% change 10.62% 12.48% 8.48% 10.19% 5.93% 8.67% 10.40% -7.19% 4.36% 19.80% 12.35%
Motor Fuel Taxes $283,937 $262,862 $281,793 $267,933 $263,598 $268,866 $253,715 $286,763 $283,503 $291,111 $278,631 $3,022,712 2.53% $3,243,100
% change 2.08% 1.21% 0.19% 3.42% -0.12% 5.26% 5.77% 1.69% 4.42% 2.94% 1.54%
Franchise Tax $31,521 $9,508 $60,786 -$212,943 -$49,344 -$37,904 $235,767 $247,152 $4,241,736 $50,544 -$2,591 $4,574,232 -1.33% $4,666,571
% change 385.79% 20.15% 3.62% 31.44% 25.20% 18.11% 6.22% 10.08% -1.22% 119.24% -107.97%
Insurance Taxes $20,830 $17,235 $15,919 $12,730 $15,689 $745,951 $320,923 $18,973 $29,187 $28,064 $470,058 $1,695,559 12.37% $1,723,659
% change 20.73% 9.35% -8.18% -13.07% -30.68% 51.29% -33.46% 164.72% 3.20% -7.07% 23.62%
Natural Gas Production Tax $144,533 $134,671 $142,602 $125,883 $144,439 $119,824 $184,284 $173,036 $146,043 $179,935 $194,844 $1,690,094 25.74% $1,559,598
% change 46.50% 24.34% 28.73% 2.32% 10.00% -8.38% 55.98% 41.17% 0.82% 80.75% 24.80%
Cigarette and Tobacco Taxes $46,899 $116,529 $123,374 $131,402 $114,197 $83,852 $117,043 $126,803 $127,049 $117,730 $126,602 $1,231,480 -11.65% $1,399,301
% change -58.06% -15.51% -11.68% -5.22% 7.55% -21.99% 3.20% -11.18% -6.15% -2.50% -9.45%
Alcoholic Beverage Taxes $83,997 $79,037 $82,891 $83,111 $87,402 $77,365 $83,847 $102,081 $92,172 $99,235 $92,773 $963,911 7.65% $1,007,737
% change 5.53% 2.21% 8.11% 6.65% -3.35% 7.02% 7.84% 14.58% 12.61% 12.83% 9.75%
Oil Production/ Regulation Taxes $331,528 $319,046 $302,765 $281,169 $294,966 $314,792 $292,935 $330,540 $334,805 $338,507 $359,907 $3,500,959 30.35% $3,262,777
% change 51.43% 44.49% 36.32% 31.52% 30.56% 22.79% 14.48% 26.60% 28.83% 19.32% 34.60%
Inheritance Tax $0 $0 $0 $0 $0 $0 $12 $0 $0 $0 $0 $12 -100.11% $0
% change N/A N/A -100.00% -100.00% -100.00% N/A N/A N/A N/A -100.00% -100.00%
Utility Taxes1 $1,974 $106,322 $10,243 $908 $88,307 $6,582 $313 $105,735 $4,435 $1,051 $95,363 $421,232 9.68% $427,166
% change 122.20% -3.13% 98.02% -94.23% 34.56% -9.20% 162.00% 24.32% 6.09% 1267.76% 5.74%
Hotel Occupancy Tax $39,913 $36,235 $41,433 $34,837 $29,497 $33,948 $37,448 $50,105 $43,983 $45,506 $44,973 $437,877 9.87% $462,124
% change 5.91% 7.02% 32.08% 3.89% 2.73% 9.91% 4.90% 14.45% 9.74% 14.66% 4.01%
Other Taxes2 $12,189 $20,698 $22,374 $7,453 $20,569 $14,908 $11,521 $59,045 $24,311 $25,667 $30,987 $249,722 7.84% $237,001
% change 7.06% 6.60% 28.84% -40.90% 14.95% 2.78% 18.34% 9.67% -19.64% 41.72% 17.12%
Total Tax Collections $3,352,940 $3,629,373 $3,817,989 $3,296,377 $3,669,647 $4,185,869 $4,001,804 $4,026,451 $8,152,719 $3,819,463 $4,454,595 $46,407,228 6.79% $48,913,392
% change 7.11% 7.81% 5.96% 4.07% 8.71% 11.79% 3.34% 7.81% 3.10% 9.65% 9.38%

To see all the columns, use the scroll bar below the table.

Revenue by Source

(Amount in thousands of dollars)

Revenue Source Sep.
2013
Oct.
2013
Nov.
2013
Dec.
2013
Jan.
2014
Feb.
2014
Mar.
2014
Apr.
2014
May
2014
Jun.
2014
Jul.
2014
YTD Total % Change
YTD vs. Last Year
Dec. 2013
CRE Estimate
Total Tax Collections $3,352,940 $3,629,373 $3,817,989 $3,296,377 $3,669,647 $4,185,869 $4,001,804 $4,026,451 $8,152,719 $3,819,463 $4,454,595 $46,407,228 6.79% $48,913,392
% change 7.11% 7.81% 5.96% 4.07% 8.71% 11.79% 3.34% 7.81% 3.10% 9.65% 9.38%
Federal Income $2,471,524 $3,287,155 $2,782,221 $2,792,850 $3,020,161 $2,509,987 $2,671,105 $2,511,233 $2,609,034 $4,273,376 $2,784,800 $31,713,446 8.38% $35,902,617
% change -7.64% 16.04% 1.16% 3.58% 27.98% 4.84% 5.00% 1.00% -7.43% 27.95% 17.84%
Licenses, Fees, Permits, Fines & Penalties $572,443 $930,003 $494,452 $762,695 $1,117,589 $459,322 $421,647 $477,496 $514,792 $1,347,211 $720,964 $7,818,614 7.79% $8,293,902
% change -24.94% 34.38% -22.60% 118.67% 71.66% -0.21% -4.93% -21.61% -54.59% 172.83% -29.32%
Interest and Investment Income $213,426 $134,910 $73,846 $95,886 $87,875 $85,690 $140,469 $84,366 $78,095 $77,031 $118,741 $1,190,336 5.51% $1,084,043
% change -12.35% 18.99% -26.59% 16.13% 19.35% 0.37% 58.83% -51.61% 0.39% 298.54% 71.70%
Lottery Proceeds3 $148,351 $173,172 $138,371 $173,450 $168,578 $169,434 $164,104 $176,130 $139,044 $136,884 $159,432 $1,746,950 0.21% $1,573,034
% change 11.51% 10.64% -4.63% 1.19% 2.31% 13.86% 0.61% 24.16% -36.65% 5.01% -5.54%
Sales of Goods and Services $19,251 $21,797 $16,674 $17,299 $24,028 $20,853 $23,090 $26,668 $21,530 $24,580 $27,538 $243,307 16.48% $380,932
% change 13.15% 34.02% 3.30% 14.93% 14.99% -1.78% 7.62% 26.83% 17.51% 23.75% 27.38%
Settlements of Claims $2,590 $4,287 $12,473 $469,339 $5,092 $20,398 $2,578 $38,578 $7,722 $1,820 -$2,247 $562,631 -5.21% $538,524
% change 33.54% -30.41% 514.36% -0.34% 268.73% 496.24% 16.81% 123.36% -90.98% -25.65% -2337.80%
Land Income $238,786 $116,473 $146,948 $145,763 $104,347 $137,499 $182,342 $172,308 $135,288 $147,736 $181,383 $1,708,874 43.91% $1,174,006
% change 98.74% 22.99% 84.56% 6.63% 101.53% 51.59% 83.39% -4.49% 17.42% 41.42% 58.74%
Contributions to Employee Benefits $7 $8 $14 $2 $8 $7 $13 $5 $6 $6 $6 $81 1.85% $112
% change -27.58% -10.73% 56.68% -77.81% -11.41% 409.41% 101.73% -23.70% -15.51% -15.51% -15.51%
Other Revenue Sources $480,585 $470,909 $93,060 $154,835 $441,748 $350,649 $307,559 $827,549 $420,242 $569,407 $672,847 $4,789,391 0.75% $4,649,762
% change 127.69% -47.12% -72.23% -26.21% 2.61% 14.97% -5.09% 34.46% 55.34% 12.33% 2.75%
Total Net Revenue $7,499,903 $8,768,089 $7,576,048 $7,908,497 $8,639,072 $7,939,709 $7,914,713 $8,340,784 $12,078,471 $10,397,513 $9,118,059 $96,180,859 7.36% $102,510,324
% change 2.80% 7.33% -1.24% 8.35% 21.17% 9.47% 4.71% 4.51% -4.49% 28.36% 7.47%

† This value was estimated in the 2014-15 Certification Revenue Estimate.

1 Includes public utility gross receipts assessment, gas, electric and water utility tax and gas utility pipeline tax.

2 Includes the cement and sulphur taxes and other occupation and gross receipt taxes not separately identified.

3 Gross sales less retailer commission and the smaller prizes paid by retailers.

Sums may not total due to rounding.

Excludes local funds and deposits by certain semi-independent agencies.

Includes certain state revenues that are deposited in State Treasury but not appropriated.

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