Personal tax filing season drove up state revenues for April.
The State Budget Agency reported general fund revenues for April totaled $3,329.6 million, which is $496.9 million or 17.5% above Dec. 16 estimates and $1,099.2 million or 49.3% above revenue in April 2021.
The state said better-than-expected collections from individual income taxes fueled April’s strong performance.
Sales tax collections totaled $884.5 million for April, which was $52.9 million or 5.6% below the monthly estimate but $12.2 million or 1.4% above revenue in April 2021.
Gasoline use tax monthly collections came in $1.2 million above the monthly estimate and $500,000 or 3.1% above prior year actuals.
Individual income tax collections totaled $1,981.4 million for April, which was $599.6 million or 43.4% above the monthly estimate and $1,041.1 million or 110.7% above revenue in April 2021.
Corporate tax collections totaled $352.3 million for April, which was $31.4 million or 8.2% below the monthly estimate but $65.6 million or 22.9% above revenue in April 2021.
Riverboat wagering collections totaled $46 million for April, which was $7.2 million or 18.7% above the monthly estimate and $6.7 million or 16.9% above revenue in April 2021.
