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Monthly State Revenue Watch

Updated October 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 2015
Net State Revenue by Source – All Funds Excluding Trust

(Amount in thousands of dollars)

Tax Collections
by Major Tax
Sep.
2014
Total % Change
YTD vs. Last Year
Dec. 2013
CRE Estimate
Sales Tax $2,180,633 $2,180,633 7.94% $27,724,696
% change 7.94%
Motor Vehicle Sales/Rental Taxes $393,357 $393,357 17.30% $4,137,821
% change 17.30%
Motor Fuel Taxes $292,758 $292,758 3.11% $3,254,727
% change 3.11%
Franchise Tax -$1,264 -$1,264 -104.01% $4,628,713
% change -104.01%
Insurance Taxes $18,786 $18,786 -9.81% $1,741,950
% change -9.81%
Natural Gas Production Tax $183,517 $183,517 26.97% $1,434,702
% change 26.97%
Cigarette and Tobacco Taxes $134,824 $134,824 187.48% $1,506,736
% change 187.48%
Alcoholic Beverage Taxes $92,150 $92,150 9.71% $1,049,684
% change 9.71%
Oil Production/ Regulation Taxes $357,451 $357,451 7.82% $3,237,061
% change 7.82%
Inheritance Tax $0 $0 N/A $0
% change N/A
Utility Taxes1 $798 $798 -59.59% $419,682
% change -59.59%
Hotel Occupancy Tax $43,622 $43,622 9.29% $474,769
% change 9.29%
Other Taxes2 $15,458 $15,458 26.82% $230,831
% change 26.82%
Total Tax Collections $3,712,090 $3,712,090 10.71% $49,841,372
% change 10.71%

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

Revenue by Source

(Amount in thousands of dollars)

Revenue Source Sep.
2014
Total % Change
YTD vs. Last Year
Dec. 2013
CRE Estimate
Total Tax Collections $3,712,090 $3,712,090 10.71% $49,841,372
% change 10.71%
Federal Income $2,987,192 $2,987,192 20.86% $38,013,459
% change 20.86%
Licenses, Fees, Permits, Fines & Penalties $632,914 $632,914 10.56% $8,169,216
% change 10.56%
Interest and Investment Income $37,617 $37,617 -82.37% $1,098,061
% change -82.37%
Lottery Proceeds3 $135,834 $135,834 -8.44% $1,579,499
% change -8.44%
Sales of Goods and Services $24,072 $24,072 25.04% $380,953
% change 25.04%
Settlements of Claims $1,700 $1,700 -34.38% $530,870
% change -34.38%
Land Income $211,716 $211,716 -11.34% $1,199,905
% change -11.34%
Contributions to Employee Benefits $6 $6 -15.51% $107
% change -15.51%
Other Revenue Sources $143,561 $143,561 -70.13% $4,828,950
% change -70.13%
Total Net Revenue $7,886,702 $7,886,702 5.16% $105,642,392
% change 5.16%

† 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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