State Releases October 2020 General Revenue Report

State Budget Director Dan Haug announced today that net general revenue collections for 2021 fiscal year-to-date increased 25.3 percent compared to October 2019, from $2.97 billion last year to $3.72 billion this year.

Net general revenue collections for October 2020 decreased 4.2 percent compared to those for October 2019, from $659.6 million last year to $631.9 million this year.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections
Increased 33.7 percent for the year, from $2.12 billion last year to $2.84 billion this year.
Decreased 6.5 percent for the month.

Sales and use tax collections
Increased 2.1 percent for the year, from $757.4 million last year to $773.6 million this year.
Increased 0.1 percent for the month.

Corporate income and corporate franchise tax collections
Increased 64.7 percent for the year, from $168.4 million last year to $277.3 million this year.
Increased 43.2 percent for the month.

All other collections
Decreased 0.8 percent for the year, from $133.7 million last year to $132.7 million this year.
Increased 35.1 percent for the month.

Refunds
Increased 41.1 percent for the year, from $212.2 million last year to $299.2 million this year.
Increased 14.2 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.