Mississippi revenue runs $202.8 million ahead of estimate four months into fiscal year
Mississippi’s General Fund revenue collections are running $202.8 million, or 8.13%, ahead of the state’s revenue estimate four months into the 2027 fiscal year, according to the Legislative Budget Office’s latest monthly report to the Joint Legislative Budget Committee.
The report, dated Nov. 5 and covering collections through Oct. 31, shows October collections alone came in $79.5 million, or 11.50%, above the estimate for the month. Year-to-date collections of nearly $2.7 billion were $132.6 million, or 5.17%, higher than at the same point last year.
The margin over the estimate has grown each month of the fiscal year, which began July 1. It stood at $20.6 million after July, $71.7 million after August and $123.3 million, or 6.84%, after September, according to the office’s earlier reports. September collections alone were $51.6 million, or 7.34%, above estimate.
October’s total includes a one-time settlements transfer of $39.9 million. Excluding settlements and other transfers, collections from taxes and other regular General Fund sources were $162.9 million, or 6.53%, above estimate through October.
Corporate income tax collections total $221.8 million for the year so far, up 26% from the same period last year and $45.5 million above estimate. Most of that came in September, when corporate receipts were $43.4 million above the month’s estimate.
Individual income tax collections of $803.2 million are 1.46% below last year’s pace but $49.9 million ahead of estimate. The year-over-year decline narrowed from 3.67% through September after October individual income tax receipts came in $9.7 million above the same month last year.
Sales tax collections of just over $1 billion are up 4.91% from last year and $19.8 million above estimate. Use tax collections are up 14.17%.
The full-year General Fund revenue estimate adopted by lawmakers for fiscal 2027 is $7.53 billion. The Joint Legislative Budget Committee, which receives the monthly reports, sets the revenue estimate and recommends the state budget ahead of each legislative session. The 2027 session begins in January.
Source: Mississippi Legislative Budget Office — FY 2027 Revenue Collections for October (memo dated Nov. 5, 2026) and for September (memo dated Oct. 6, 2026), with attached Department of Finance and Administration revenue reports.