State Releases February 2021 General Revenue Report

State Budget Director Dan Haug announced today that net general revenue collections for February 2021 increased 8.1 percent compared to those for February 2020, from $685.4 million last year to $740.7 million this year. Net general revenue collections for 2021 fiscal year-to-date increased 18.5 percent compared to February 2020, from $6.08 billion last year to $7.20 billion this year.

 

 

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections

-Increased 16.5 percent for the year, from $4.67 billion last year to $5.44 billion this year.

-Decreased 11.4 percent for the month.

 

 

Sales and use tax collections

-Increased 3.1 percent for the year, from $1.55 billion last year to $1.60 billion this year.

-Decreased 5.7 percent for the month.

 

 

Corporate income and corporate franchise tax collections

-Increased 43.7 percent for the year, from $297.7 million last year to $427.8 million this year.

-Increased 64.8 percent for the month.

 

 

All other collections

-Increased 13.5 percent for the year, from $264.7 million last year to $300.4 million this year.

-Decreased 6.1 percent for the month.

 

 

Refunds

-Decreased 19.7 percent for the year, from $706.3 million last year to $567.4 million this year.

-Decreased 53.4 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.