On November 1, the Department of Revenue reported the state collected $2.7 billion in General Fund revenue in October, which was $119.7 million, or 4.7 percent, more than anticipated. Fiscal year-to-date General Fund collections total $10.4 billion, which is $164.2 million, or 1.6 percent, above estimate.
Sales tax receipts totaled $1 billion for October, $27.4 million above estimate. Year-to-date sales tax collections total $3.9 billion, which is $59.6 million, or 1.6 percent, more than anticipated.
Personal income tax (PIT) revenue in October was $1.2 billion, $27.4 million above estimate. This brings year-to-date PIT collections to $4.3 billion, which is $77.6 million, or 1.8 percent, above estimate.
October corporation tax revenue of $145.2 million was $16.4 million above estimate. Year-to-date corporation tax collections total $958.3 million, which is $62.5 million, or 6.1 percent, below estimate.
Inheritance tax revenue for the month was $91 million, $1.2 million below estimate, bringing the year-to-date total to $373.2 million, which is $8.3 million, or 2.3 percent, above estimate.
Realty transfer tax revenue was $54.3 million for October, $3.7 million above estimate, bringing the fiscal-year total to $178.7 million, which is $1.9 million, or 1.1 percent, more than anticipated.
Other General Fund tax revenue, including cigarette, malt beverage, liquor and gaming taxes, totaled $157.3 million for the month, $12.6 million above estimate and bringing the year-to-date total to $586.8 million, which is $6.9 million, or 1.2 percent, above estimate.
Non-tax revenue totaled $29.4 million for the month, $33.4 million above estimate, bringing the year-to-date total to $123.8 million, which is $72.5 million, or 141.4 percent, above estimate.
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