State releases October 2022 General Revenue Report

State Budget Director Dan Haug announced today that net general revenue collections for October 2022 grew 16.7 percent compared to those for October 2021, from $775.3 million last year to $904.4 million this year.

Net general revenue collections for 2023 fiscal year-to-date increased 17.1 percent compared to October 2021, from $3.54 billion last year to $4.14 billion this year.

GROSS COLLECTIONS BY TAX TYPE

Individual income tax collections

- Increased 15.0 percent for the year, from $2.52 billion last year to $2.90 billion this year.

- Increased 15.9 percent for the month.

Sales and use tax collections

- Increased 8.2 percent for the year, from $923.4 million last year to $999.4 million this year.

- Increased 24.1 percent for the month. 

Corporate income and corporate franchise tax collections

- Increased 25.1 percent for the year, from $243.0 million last year to $303.9 million this year.

- Decreased 27.6 percent for the month.

All other collections

- Increased 51.9 percent for the year, from $146.0 million last year to $221.7 million this year.

- Increased 69.9 percent for the month.

Refunds

- Decreased 4.2 percent for the year, from $298.4 million last year to $285.9 million this year.

- Increased 9.1 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