Individual income tax collections were $593.5 million. That is $76.0 million, or 11.4%, below the estimate, and 41.7%, or 425.3 million, below what was collected in April 2022. Part of the decrease in the individual income tax receipts is attributable to having two fewer processing days after the April 18 due date than in April 2022. Corporate income tax collections were $354.2 million. That is $50.2 million, or 16.5%, more than the month’s estimate and 150.4% more than in April 2022.

“The lower individual income tax receipts and higher corporate income tax receipts reflect the impact of the SALT Parity Act, which allows owners of pass-through entities to elect to have the pass-through income taxed at the entity level rather than at the entity owner level,” Secretary of Revenue Mark Burghart said.

Combined sales and compensating use tax receipts were $308.6 million, which is $2.2 million, or 0.7%, below the estimate, and down $1.4 million, or 0.4%, from April 2022.  The continued impact of reducing the food sales tax can be seen in the year-over-year decrease in the combined sales and compensating use tax collections.

Click here to see the April 2023 receipts.