| FY2024 General Purpose Revenues (GPR) |
| Preliminary Fiscal Year 2024 |
| Amounts in Thousands ($), rounded |
| Actual Fiscal Year 2023 | LFB Estimate Jan 2024 | Preliminary FY 2024 | Variance From Estimate | |||
| Individual Income | 9,414,724 | 9,539,800 | 9,717,592 | 177,792 | ||
| General Sales and Use | 7,456,088 | 7,603,600 | 7,587,476 | (16,124) | ||
| Corporate Income/Franchise | 2,748,521 | 2,590,000 | 2,702,069 | 112,069 | ||
| Public Utility | 401,200 | 405,000 | 399,525 | (5,475) | ||
| Excise Taxes | 617,771 | 588,500 | 571,787 | (16,713) | ||
| Cigarette | 444,734 | 413,000 | 402,705 | (10,295) | ||
| Tobacco Products | 88,333 | 89,000 | 85,670 | (3,330) | ||
| Vapor Products | 7,062 | 8,000 | 7,105 | (895) | ||
| Liquor and Wine | 69,379 | 71,000 | 68,274 | (2,726) | ||
| Beer | 8,262 | 7,500 | 8,033 | 533 | ||
| Insurance | 223,119 | 224,000 | 242,578 | 18,578 | ||
| Miscellaneous | 112,576 | 103,000 | 108,531 | 5,531 | ||
| Total | 20,973,999 | 21,053,900 | 21,329,558 | 275,658 |
*This is the GPR estimate published by the Legislative Fiscal Bureau (LFB) on January 24, 2024, and modified by subsequent tax law changes.
General purpose revenues (GPR) increased 1.7% in fiscal year 2024 (FY24) to $21,329.6 million. This is 1.3% more than the Legislative Fiscal Bureau’s modified January 24, 2024 estimate of $21,053.9 million.
These are unaudited figures subject to final review by the State Controller’s Office prior to the publication of the Department of Administration’s Annual Fiscal Report to be released October 15, 2024. Additionally, the Legislative Audit Bureau performs an audit of the State’s Annual Comprehensive Financial Report which is published in December of each year.
These collections do not offer guidance on the budget balance for FY24. Other general purpose revenues and the final general purpose revenue expenditures will have substantial bearing on the final budget balance.
