General Fund Revenue Report - August 2026
By Adrian Buckner , Budget Analyst | 1 day ago
Tax & Revenue Analyst: Adrian Buckner, Budget Analyst
General Fund revenue finished behind projections. Fiscal year-to-date, General Fund revenues were $6.4 billion, $21.5 million (0.3%) below estimate. August’s General Fund collections were $3.02 billion, $21.6 million (0.7%) below estimate, driven primarily by underperformance in Selective Business Tax and Nontax Revenue.
Year-to-date, Personal Income Tax (PIT) collections are $2.5 billion, $17.4 million (0.7%) above estimate. PIT receipts in August overperformed estimate by $17.5 million (1.5%) for a total of $1.2 billion. The period’s overperformance was led by withholding collections which were above estimated by $11.8 million (1.1%) with year-to-date withholding collections at $2.3 billion or $11.8 million (0.5%) above estimate. Inheritance Tax revenue was $171.6 million, $18.1 million (11.8%) higher than expected for August. Inheritance Tax collections are $393 million year-to-date, which is $18.1 million (4.8%) ahead of estimate. Lastly, Nontax revenue collections for August were $17.5 million, $54.8 million (75.7%) below estimate. Year-to-date, Nontax revenue is $57.8 million, which is below the estimate by $54.6 million (48.6%).
Sales and Use Tax (SUT) outperformed August’s estimate. SUT collections totaled $1.3 billion for the month, exceeding projections by $4.2 million (0.3%) and year-to-date SUT collections remain $2.8 billion (0.1%) ahead of the revenue estimate by $4.2 million (0.1%).
Additionally, Corporate Net Income Tax (CNIT) collections overperformed estimates for the month and continued to outperform year-to-date. August CNIT receipts were $85.9 million, which was $505,000 (0.6%) above expectations. The year-to-date CNIT revenue outperformed estimates by $471,000, with collections totaling $286.1 million (0.2%).
