By Frank Corder, Magnolia Tribune
FILE – The Mississippi Capitol in Jackson, Miss., on July 6, 2020. (AP Photo/Rogelio V. Solis, File)
Mississippi revenue collections took a dip in February as collections for the month came in $65.3 million, or 13.25% below legislative estimates.
However, the Legislative Budget Office on Wednesday said year-to-date state revenue collections with four months remaining in the current fiscal year remain $99.5 million, or 2.14% above estimates.
The full year state revenue estimate is $7.552 billion.
The February dip saw General Fund collections come in $55.7 million, or 11.53% below the actual collections for the same month in the prior fiscal year.
Sales tax collections for the month of February were below the prior year by $8.6 million. Corporate income tax collections for the month of February were also below the prior year by $6 million.
Individual income tax collections for the month were above the prior year by $12.6 million.
Fiscal year-to-date total revenue collections through February 2026, eight months in, were $76.4 million, or 1.64% above the prior year’s collections.
Lawmakers are currently working to adopt appropriations bills and set the 2027 state budget.