BATON ROUGE, LA. – The October 2015 Net Receipts Report shows that total state revenue thus far for 2015-2016 was $2.177 billion, a 14% decrease compared to that time last year. Sales tax receipt growth was up slightly. Personal income, severance and corporation/franchise tax receipts were down.

Since the 2015-2016 state fiscal year began in July, state general fund collections each month have lagged compared to the previous year even though the five year base line projection anticipates a 2.13 percent growth in the state general fund this year.

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 $910 million, for an increase of $14 million or 2% compared to last year. General sales tax cash receipts this time last year were $896 million, which was $42 million more than the prior year.

Individual income tax cash receipts for FY 2015-2016 to-date are $988 million, for a decrease of $42 million or 4% compared to last year. Individual income tax cash receipts this time last year were $1.030 billion, which was $23 million less than the prior year.

General severance tax cash receipts for FY 2015-2016 to-date are $181 million, for a decrease of $127 million or 41% compared to last year. General severance tax cash receipts this time last year were $308 million, which was $15 million more than the prior year.

Corporation and franchise tax cash receipts for FY 2015-2016 to-date are a negative $211 million, for a decrease of $228 million or 1,341% compared to last year. Corporation and franchise tax cash receipts this time last year were $17 million, which was $36 million less than the prior year.

Gasoline and special fuels tax cash receipts for FY 2015-2016 to-date are $209 million, for an increase of $6 million or 3% compared to last year. Gasoline and special fuels tax cash receipts this time last year were $203 million, which was $4 million more than the prior year.

Miscellaneous taxes cash receipts for FY 2015-2016 to-date are $62 million, for a decrease of $13 million or 17% compared to last year. Miscellaneous taxes cash receipts this time last year were $75 million, which was $14 million more than the prior year.

To view the report in its entirety, visit www.latreasury.comand click “Net Receipts Statement for the Month of October 2015.”

Contact:
Michelle Millhollon
(225) 342-0012
mmillhollon@treasury.state.la.us