On December 2, the Department of Revenue reported November state revenues were $1.8 million-- 0.1 percent-- above estimates. Fiscal year-to-date General Fund collections total $12.7 billion, which is $166.1 million, or 1.3 percent, above estimate.
Sales tax receipts totaled $925.5 million for November, $10.5 million below estimate. Year-to-date sales tax collections total $4.8 billion, which is $49.1 million, or 1 percent, more than anticipated.
Personal income tax (PIT) revenue in November was $869.6 million, $3.4 million below estimate. This brings year-to-date PIT collections to $5.2 billion, which is $74.2 million, or 1.5 percent, above estimate.
November corporation tax revenue of $150.8 million was $16.6 million above estimate. Year-to-date corporation tax collections total $1.1 billion, which is $46 million, or 4 percent, below estimate.
Inheritance tax revenue for the month was $87.8 million, $13.7 million above estimate, bringing the year-to-date total to $461 million, which is $22 million, or 5 percent, above estimate.
Realty transfer tax revenue was $48.8 million for November, $1.3 million above estimate, bringing the fiscal-year total to $227.5 million, which is $3.2 million, or 1.4 percent, more than anticipated.
Other General Fund tax revenue, including cigarette, malt beverage, liquor and gaming taxes, totaled $160.6 million for the month, $8.4 million below estimate and bringing the year-to-date total to $747.4 million, which is $1.5 million, or 0.2 percent, below estimate.
Non-tax revenue totaled $113.4 million for the month, $7.5 million below estimate, bringing the year-to-date total to $237.3 million, which is $65.1 million, or 37.8 percent, above estimate.
In addition to the General Fund collections, the Motor License Fund received $257.7 million for the month, $1.4 million above estimate. Fiscal year-to-date collections for the fund — which include the commonly known gas and diesel taxes, as well as other license, fine and fee revenues-- total $1.2 billion, which is $14.2 million, or 1.2 percent, below estimate.
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