State Budget Director John Hicks reported today that October’s General Fund receipts declined 0.5 percent compared to last year’s total. Revenues for the month were $1,181.6 million compared to $1,187.9 million collected in October 2024. The official General Fund revenue estimate for FY26 calls for revenue to decline 2.3 percent compared to FY25 actual receipts. Based on receipts through the first four months of FY26, General Fund revenues can decline 2.2 percent for the remainder of the fiscal year and still meet the official estimate.

Regarding October General Fund revenues, Hicks noted that “Sales tax collections continue to improve, growing 14.5 percent in the month of October and 6.5 percent through the first four months of FY26. The individual income tax also remains strong. Withhol

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