STATE TAX COLLECTIONS in September rose slightly compared to last year but lagged projections, coming in about half a percentage point below the administration’s expectations for a significant revenue month.
The Department of Revenue said Thursday that it collected $4.518 billion in September — $331 million, or 7.9 percent more, than what was collected during September 2023, but $29 million, or 0.6 percent, below the monthly benchmark. And the department said a “temporary, one-time event in sales and use tax” accounted for $54 million of the year-over-year increase last month, without which last month’s revenues would have been $83 million below the benchmark.
September “is a significant month for revenues because many individuals and corporations are required to make estimated payments,” DOR said, adding that it generally produces about 10 percent of the state’s annual tax revenue.
At the quarter pole of fiscal year 2025, state government has collected approximately $9.826 billion in tax revenue. That’s $541 million, or 5.8 percent, more than actual collections over the same period of fiscal 2024, but still $44 million, or 0.4 percent, below the year-to-date benchmark. Without September’s one-time payment, DOR said, year-to-date collections would be $98 million below benchmark.
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