Statewide Net General Revenue Numbers Down Despite Collections Being Up

Statewide net general revenue collections were down 7.6 percent for January of this year compared to 2025…from $1.29 billion to 1.2 billion.

State Budget Director Dan Haug also says, at the same, the 2026 fiscal year-to-date collections reflected an overall increase of 1.4 percent compared to 2025…from 7.42 billion to 7.53 billion.

Gross collections by tax type saw monthly and year-to-date increases in sales and use taxes while pass through entity taxes, corporate income and corporate franchise taxes each reflected monthly and year-to-date decreases.

Individual income taxes, refunds and all other taxes reflected mixed numbers for the month and year-to-date.

Full Report:

State Budget Director Dan Haug announced today that net general revenue collections for January 2026 decreased 7.6 percent compared to those for January 2025, from $1.29 billion last year to $1.20 billion this year.

Net general revenue collections for 2026 fiscal year-to-date increased 1.4 percent compared to January 2025, from $7.42 billion last year to $7.53 billion this year.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections

• Increased 2.6 percent for the year, from $4.66 billion last year to $4.78 billion this year.
• Decreased 7.0 percent for the month.

Pass through entity tax collections

• • Decreased 23.1 percent for the year, from $397.1 million last year to $305.5 million this year.
  • Decreased 30.2 percent for the month.

Sales and use tax collections

• Increased 5.5 percent for the year, from $1.91 billion last year to $2.01 billion this year.
• Increased 16.1 percent for the month.

Corporate income and corporate franchise tax collections

• Decreased 21.6 percent for the year, from $505.2 million last year to $395.9 million this year.
• Decreased 16.9 percent for the month.

All other collections

• Increased 4.3 percent for the year, from $522.1 million last year to $544.3 million this year.
• Decreased 22.2 percent for the month.

Refunds

• Decreased 10.0 percent for the year, from $566.4 million last year to $509.7 million this year.
• Increased 3.5 percent for the month.

The figures included in the monthly general revenue report represent a snapshot in time and can vary widely based on a multitude of factors.

PR 2026-01.