April Revenue Rises Sharply

Liz Gullett

Jun 03, 2022

April’s monthly revenue earmarked for the general fund and school aid fund totaled $3.7 billion, a 30.3% increase from April 2021. Tax collections for the month were $1.1 billion more than prior estimates, according to data released by the nonpartisan Senate Fiscal Agency. Revenue earmarked for the General Fund came in $847.3 million above prior estimates, while collections to the School Aid Fund were $281.4 million higher.

Net income tax revenue in April 2022 also saw a large increase, totaling $1.8 billion, a year-over-year increase of 56.1%. Withholding payments were also up, but at a much lower 2.5% increase. Sales tax receipts were up 13.1% from April 2021, totaling $937.8 million, which was a monthly all-time record high.

To read the full monthly revenue report, please click here.

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