* Commission on Government Forecasting and Accountability’s April revenue report…
In the pivotal month of April, revenues deposited into the State’s General Funds increased by $146 million, or 2.0%. While the overall gains were modest, results generally aligned with expectations. The revenue total of $7.305 billion represents the second-highest month on record, trailing only the federal stimulus-aided $8.0 billion collected in April FY 2022. Income tax receipts accounted for the vast majority of the total, while growth in Federal Sources provided additional support. April 2026 had the same number of receipting days as April of last year. […]
In short, there was no “April Surprise,” as receipts remained consistent with recent trends. […]
Sales Tax receipts also rose in April, with gross collections up $24 million, or 2.4%. After accounting for distributions to the Road Fund and certain transportation funds, the net increase was $21 million. Although this growth is below the 5.1% pace experienced in the first half of the fiscal year, receipts continue to post gains, likely supported in part by higher prices as inflation has edged up in recent months. […]
Year to Date
Incorporating April’s modest gains, General Funds receipts now total $46.564 billion for FY 2026, with only two months remaining in the fiscal year. This amount is $1.716 billion, or 3.8%, above last year’s ten-month total. From a base revenue perspective, cumulative growth is slightly higher at $1.778 billion when adjusting for the difference in one-time revenues received in FY 2025 and FY 2026.
In summary, revenues deposited into the State’s General Funds since the Commission released its updated FY 2026 and FY 2027 forecasts have generally tracked in line with expectations. While minor adjustments remain possible following a more detailed review, no significant revisions appear necessary at this time. The Commission will evaluate the latest revenue data and updated economic forecasts in the coming days to determine whether any changes to the FY 2026 and FY 2027 outlooks are warranted.
Emphasis was in the original.
- Think Again - Monday, May 4, 26 @ 12:45 pm:
=In the pivotal month of April, revenues …increased by $146 million, or 2.0%. While the overall gains were modest, results generally aligned with expectations. The revenue total of $7.305 billion represents the second-highest month on record=
Great news - kudos on shelving the CA on the wealth tax
- Mr. Middleground - Monday, May 4, 26 @ 1:37 pm:
If we reduce out migration, we will see more revenue growth without tax increases. We should start by winning more graduating high school seniors that leave to out of state colleges, never to return.