(Photo from Governor's 2024 EBR)
- December state revenue collections came in $74.2 million, or 12.99% above the revised revenue estimate.
As lawmakers get down to work for the 2026 legislative session, appropriators received some welcome news Wednesday as they plan for the next state budget amid increased requests for funding.
Mississippi is now halfway through its current fiscal year and state revenue collections are thus far exceeding estimates by $164.3 million.
The Legislative Budget Office (LBO) reported that the December collection numbers came in $74.2 million, or 12.99 percent above the revised revenue estimate.
The Joint Legislative Budget Committee unanimously revised the Fiscal Year 2026 total state revenue collection downward by $75 million, or about 1 percent, in November, lowering it from $7.627 million to $7.552 million.
LBO reported that the fiscal year-to-date total revenue collections through December 2025 are $178.9 million, or 5 percent above the prior year’s collections for the same period.
December General Fund collections were $81.8 million, or 14.52 percent above the prior year while corporate income tax collections also exceeded the prior year by $71.9 million.
Sales tax collections for the month of December dipped slightly, coming in below the prior year by $4.9 million.
Individual income tax collections for the month of December were also below the prior year by $400,000. Income tax collections had continued to rise in prior months despite the continued phase out of the state individual income tax.
