General Fund revenues for September 2023 remain in line with
updated revisions to the official revenue forecast. In comparison to the
revenue forecast assumed in the amended budget, year-to-date total general fund
revenues are ahead by $412.1 million, primarily due to higher non-withholding
revenues. All major sources of revenue are generally in line or ahead of
projections.
General fund revenues were up 51.9 percent for the month of September on an unadjusted basis. Year-to-date through September 30, general fund revenues are up 17.9 percent over the prior year. Adjusting for policy and the timing of refunds related to the Pass-Through Entity Tax (PTET), September revenues increased by 9.4 percent and are up 8.6 percent year-to-date. Adjusting for policy, but excluding PTET adjustments, revenues are up 4.0 percent through September.
The full September 2023 revenue report is available here.
