The October revenue report showed that revenue was up $84.5 million over the previous estimates for FY2023.
Total revenue collections for the month of October FY 2023 are $84,478,628 or 14.39% above the sine die revenue estimate. Fiscal YTD revenue collections through October 2022 are $323,773,602 or 14.75% above the sine die revenue estimate. Fiscal YTD total revenue collection through October 2022 are $291,030,474 or 13.07% above the prior year’s collections. The FY 2023 Sine Die Revenue Estimate is $6,987,400,000.
The graph above compares the actual revenue collections to the sine die revenue estimate for each of the main tax revenue sources. The figures reflect the amount the actual collections for Sales, Individual, Corporate, Use and Gaming taxes were above or below the estimate for the month and fiscal year-to-date. The graph also compares fiscal year-to-date actual collections to prior year actual collections, as of October 31, 2022.
October FY 2023 General Fund collections were $87,708,177 or 15.02% over October FY 2022 actual collections. Sales tax collections for the month of October were above the prior year by $18.9M. Individual income tax collections for the month of October were above the prior year by $53.6M. Corporate income tax collections for the month of October were above the prior year by $10.5M.
View the full report below:
Revenue Report October 2022 by yallpolitics on Scribd