State income collections are $637 million above estimates with two months remaining within the fiscal 12 months.
Mississippi state revenues exceeded legislative estimates but once more through the month of April.
Complete income collections for the month of April 2023 are $35,148,318, or 3.48% above the sine die income estimate. Fiscal year-to-date income collections via April 2023 are $637,014,667 or 11.20% above the sine die income estimate with two month remaining within the fiscal 12 months.
Learn the complete Income Report right here.
Fiscal year-to-date whole income assortment via April 2023 was $384,349,074, or 6.47% above the prior 12 months’s collections.
The FY 2023 Sine Die Income Estimate was $6,987,400,000.
The graph above compares the precise income collections to the sine die income estimate for every of the primary tax income sources. The figures replicate the quantity the precise collections for Gross sales, Particular person, Company, Use and Gaming taxes had been above or beneath the estimate for the month and monetary year-to-date.
RELATED: Mississippi state income collections proceed to climb
The graph additionally compares fiscal year-to-date precise collections to prior 12 months precise collections, as of April 30, 2023.
April FY 2023 Common Fund collections had been $8,395,988 or 0.83% above April FY 2022 precise collections, with Gross sales tax collections for the month above the prior 12 months by $11.2 million and Company earnings tax collections above the prior 12 months by $50.1 million.
Particular person earnings tax collections for the month of April had been beneath the prior 12 months by $51.3 million.
“The April income estimates additional reveal that the Mississippi economic system is rising, and we’re persevering with on a trajectory of sustained financial prosperity for our state,” stated Speaker of the Home Philip Gunn.
