By News Service of Florida
State general revenue collections for March exceeded expectations by $57.6 million, according to the Legislature’s Office of Economic & Demographic Research.
On Monday, the office reported the state collected $3.97 billion in net general revenue in March, 1.5 percent above the amount anticipated in a revised January forecast.
The state forecast is intended to help lawmakers who are expected to return to Tallahassee next week, complete the fiscal year 2026-2027 budget. General revenue is closely watched because it plays a major role in funding education, health and prison programs.
Sales tax collections, which make up the largest part of state revenue, totaled more than $3 billion for March. The total was $4.7 million more than forecast, according to the office release.
Also, the $333.9 million in corporate income taxes exceeded the forecast by $27.7 million. But earnings on state investments totaled $104.4 million for the month, $15.4 million under the forecast.
Documentary stamp taxes on real estate transactions came to $130.5 million for the month, $19.8 million over the forecast.
Revenue from Indian casinos was at $91.7 million, $2.1 million over the outlook, while the $16.7 million generated through the beverage tax was $500,000 over the forecast. The $8 million brought in through the tobacco tax was $900,000 above the forecast and the parimutuel tax generated $800,000, or $100,000 more than anticipated.