To promote better understanding of the state’s finances, Revenue Watch now reports revenue in two ways:
All Funds (Excluding Trusts) The all-funds report shows revenues received from all sources that are available for spending on all state governmental purposes. All funds include general revenue-related funds, general revenue dedicated funds, federal income and other revenues. General Revenue-Related Funds The report for general revenue-related funds shows revenues designated for general-purpose spending.
Both reports present revenue on a cash basis by month of collection, though not all revenues are actually received monthly. For example, firms remitting sales taxes may do so monthly, quarterly or annually, generally depending on their size. The franchise tax is remitted once a year, usually in May.
Some sources of revenue include:
The largest sources of state tax revenue are:
All amounts shown reflect net revenue, which is gross revenue less any discounts, allowances, adjustments or refunds allowed by law. These reports are updated monthly.