FILE - The Mississippi Capitol in Jackson, Miss., on July 6, 2020. (AP Photo/Rogelio V. Solis, File)
- The Magnolia State’s year-to-date tax collections were $87.6 million, or 1.15% above the prior year’s collections.
The Legislative Budget Office’s June revenue report shows that Mississippi ended the 2026 Fiscal Year in the black, bringing in $176.7 million, or 2.34% more in taxes than estimated.
Notably, the year-to-date collections were $87.6 million, or 1.15% above the prior year’s collections.
The 2026 Fiscal Year total revenue estimate was $7.552 billion. It was revised down by $75 million, from $7.627 billion, last November prior to the start of the 2026 legislative session.
LBO’s report released on Monday also showed that June’s revenue collections were slightly below the monthly estimate, coming in at $381,227, or 0.05% under estimate.
June general fund collections were $10.7 million, or 1.32% above the prior year’s actual collections.
Also coming in ahead of the same month, prior year collections were individual and corporate income tax collections for the month of June.
Individual income tax collections were above the prior year by $19.9 million, even with the state’s continued phase out of the income tax, and corporate income tax collections were above the prior year by $3.1 million.
However, sales tax collections for the month of June were below the prior year by $13 million.
