By The News Service of Florida <\/p>\n
State general revenue collections for February exceeded expectations by $154.5 million, according to the Legislature\u2019s Office of Economic & Demographic Research.<\/p>\n
A monthly revenue report released Wednesday shows the state collected $4.01 billion in net general revenue in February, 4 percent above the anticipated amount from a revised forecast in January.<\/p>\n
The state forecast is intended to help lawmakers make budget decisions. General revenue is closely watched because it plays a major role in funding education, health care and prison programs.<\/p>\n
When revising the numbers in January, state economists increased the revenue projection for fiscal year 2025-2026, which ends June 30, by $502.5 million and the 2026-2027 projection by $70 million. At the time, the economists noted the \u201cforecasting environment is generally stable,\u201d but there was an \u201celevated\u201d uncertainty regarding the economic outlook \u201cfrom this point forward.\u201d<\/p>\n
Sales tax collections, which make up the largest part of state revenue, totaled $3.05 billion for the month of February. The total was $200,000 less than forecast or \u201cvirtually on estimate,\u201d according to the office release.<\/p>\n
Meanwhile, the $242.7 million in corporate income taxes exceeded the forecast by $108.2 million. Also, earnings on state investments totaled $120.3 million for the month, $500,000 above the forecast.<\/p>\n
Documentary stamp taxes on real estate transactions totaled $96.1 million for the month, $14 million over the forecast.<\/p>\n
Revenue from Indian gaming was at $89.6 million, matching the outlook, while the $16 million generated through the beverage tax was $1 million over the forecast. The $8.3 million brought in through the tobacco tax was $600,000 short of the forecast and the parimutuel tax generated $800,000, or $100,000 less than anticipated.<\/p>\n","protected":false},"excerpt":{"rendered":"By The News Service of Florida State general revenue collections for February exceeded expectations by $154.5 million, according…\n","protected":false},"author":2,"featured_media":8098,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[232,234,233],"class_list":["post-216505","post","type-post","status-publish","format-standard","has-post-thumbnail","category-tallahassee","tag-tallahassee","tag-tallahassee-headlines","tag-tallahassee-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/216505","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=216505"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/216505\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/8098"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=216505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=216505"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=216505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}