BATON ROUGE, La. - The January 2016 Net Receipts Report shows that total state revenue thus far for 2015-2016 was $4.198 billion, a 12% decrease compared to that time last year, but a 3% increase over December. Sales tax, severance tax and corporation/franchise tax receipts are down from last year. Individual income tax revenue is up slightly over last year.

In December, total state revenue was down 15 percent, or $636 million. Comparatively, state revenues improved 3%.

The report includes receipts for sales tax, individual income tax, general severance tax, corporation and franchise tax, gasoline and special fuels tax and miscellaneous taxes cash receipts. The report does not include gambling revenues, fees, self-generated revenue and statutory dedications.

General sales tax cash receipts for FY 2015-2016 to-date are $1.623 billion, for a decrease of $18 million or 1% compared to last year. General sales tax cash receipts this time last year were $1.641 billion, which was $78 million more than the prior year.

Individual income tax cash receipts for FY 2015-2016 to-date are $1.866 billion, for an increase of $11 million or 1% compared to last year. Individual income tax cash receipts this time last year were $1.855 billion, which was $53 million less than the prior year.

 




General severance tax cash receipts for FY 2015-2016 to-date are $299 million, for a decrease of $214 million or 42% compared to last year. General severance tax cash receipts this time last year were $513 million, which was $22 million more than the prior year.

Corporation and franchise tax cash receipts for FY 2015-2016 to-date are a negative $151 million, for a decrease of $423 million or 156% compared to last year. Corporation and franchise tax cash receipts this time last year were $272 million, which was $31 million less than the prior year.

Gasoline and special fuels tax cash receipts for FY 2015-2016 to-date are $363 million, for an increase of $6 million or 2% compared to last year. Gasoline and special fuels tax cash receipts this time last year were $357 million, which was $11 million more than the prior year.

Miscellaneous taxes cash receipts for FY 2015-2016 to-date are $126 million, for a decrease of $3 million or 2% compared to last year. Miscellaneous taxes cash receipts this time last year were $129 million, which was $15 million more than the prior year.

To view the report in its entirety, visit www.latreasury.com and click "Net Receipts Statement for the Month of January 2016."