By News Service of Florida
Florida’s general-revenue tax collections topped expectations in October.
The Legislature’s Office of Economic & Demographic Research, in a report issued Friday, said Florida collected about $3.767 billion in net general revenue in October, $171.8 million more than had been projected.
Sales taxes, the largest part of general revenue, topped expectations by $125.3 million in October.
In all, the state collected nearly $2.956 billion in sales-tax revenue during the month.
The state’s Revenue Estimating Conference meets periodically during the year to update projections, with the last update issued in August.
General revenue is closely watched because it plays a major role in funding education, health and prison programs.
Among other sources of revenue that topped expectations in October, earnings on investments came in at $148.6 million, $29.6 million more than forecast.
Meanwhile, corporate income taxes were $19.5 million below projections, totaling $180.5 million for the month.
The Revenue Estimating Conference is scheduled to meet Jan. 23 to update projections that will be used in negotiating the state budget for the 2026-2027 fiscal year.