General Fund Revenue Report - April 2025

By Adrian Buckner - Budget Analyst , Gueorgui Tochev - Senior Budget Analyst | 9 days ago

General Fund revenues in April were $363.2 million, or 6.2% higher than expected. For the year-to-date, General Fund revenues are $328.8 million or 0.8% higher than estimate.

Overall, Personal Income Tax (PIT) collections were higher for the month by $287 million, or 8.9%. As a component of PIT, withholding payments finished the month at $38.6 million, or 3.1% higher than estimate and non-withholding payments were $248.4 million, or 12.5% above expected. For the year-to-date, PIT collections are $191 million or 1.2% above expectations.

Sales and Use Tax (SUT) collections were $84.9 million over estimate for the month, resulting in year-to-date SUT collections of $103.7 million or 0.9% higher than estimate.

Corporate Net Income Tax (CNIT) collections were $57.9 million, or 9% lower than projected in April. Combined year-to-date CNIT revenue is lower than projections by $86.4 million, or 2.1%.

Inheritance Tax revenue was $1.5 million, or 1% higher than expected for the month, putting year-to-date collections at $18.8 million or 1.3% ahead of estimate. Lastly, Nontax revenue was $44.4 million, or 11.9% higher than the estimate. For the year-to-date, Nontax revenue is $31.8 million, or 2.6% over the estimate.