Department Releases May Revenue Collections

For Release: June 19, 2008
Contact: Jessica Iverson, Communications Officer, 608-266-2300

This report includes general purpose revenue (GPR) taxes collected by the Wisconsin Department of Revenue, and does not include taxes collected by the Office of the Commissioner of Insurance (OCI), administrative fees, and other miscellaneous revenues. Total General Fund tax collections are reported in the Department of Administration's Report of Monthly General Fund Financial Information, which includes GPR and program revenue taxes collected by all state agencies.

Department of Revenue Collections, May FY2008
($ thousands)

 

Collections for Month

Collections to Date

Revenue Source

FY 2007

FY 2008

% change

FY 2007

FY 2008

% change

Individual Income*

431,472

300,772

-30.3%

5,597,218

5,608,854

0.2%

General Sales & Use

332,198

308,173

-7.2%

3,423,793

3,468,930

1.3%

Corporation Franchise & Income*

10,279

41,239

301.2%

750,540

685,525

-8.7%

Cigarette

24,595

45,272

84.1%

243,135

351,095

44.4%

Tobacco Products

1,550

3,335

115.1%

14,498

21,921

51.2%

Other

177,735

183,418

3.2%

508,821

542,311

6.6%

TOTAL GPR TAXES

$977,829

$882,209

-9.8%

$10,538,006

$10,678,636

1.3%

* Individual Income includes 83% of pass-thru withholding and Corporate Franchise & Income includes the remaining 17%. Individual Income also includes prior-year recovery accounts 9549 and 9563.
+ The 'Other' category includes beer, liquor and wine, estate, utility, and real estate transfer fee collections.

Notes:

  1. Individual Income for May 2008 was impacted by the timing of withholding payments – a large payment was made on May 31 but because the 31 st fell on a weekend, the payment was not recorded until June. Hence, May individual income tax collections are artificially low, distorting the growth rates for individual income tax and total taxes. Adjusting for the late posting, individual income taxes decreased 4.4% in May and total collections increased 1.7%. Year-to-date, individual income tax collections increased 2.2% and total DOR GPR collections increased 2.4%.

  2. All data are preliminary and unaudited.

Page last updated June 19, 2008