The State Budget Director’s Office on Thursday reported General Fund receipts rose 9.2 percent in November compared to last year. The increase in collections followed two consecutive monthly declines.
Total revenues for the month were $1,375.0 million compared to $1,259.4 million in November 2024, an increase of $115.6 million. Year-to-date General Fund receipts are unchanged from FY25 and can fall 3.8 percent over the final seven months of the fiscal year and still meet the official revenue estimate of $15,349.7 million.
“Individual income tax collections accounted for $83.4 million of the $115.4 million total increase,” said State Budget Director John Hicks. “Each of the major components of the individual income tax grew, including the impact of Governor Andy Beshear’s order allowing affected taxpayers in all 120 counties to file tax returns by November 3 instead of April 15 because of severe storms in February.
“The Kentucky disaster relief tax returns had an impact on the net returns and pass-through entity tax components of the income tax, which grew by $22.4 million and $22.7 million, respectively, in November. Sales and use tax revenues also posted growth of $16.7 million in November while property tax receipts increased $15.1 million.”
Among the major accounts:
• Major business tax receipts declined 20.6 percent to $32.0 million in November. Receipts year-to-date have decreased 50.6 percent.
• Individual income tax collections grew 21.9 percent for the month. Through the first five months of FY26, receipts in this tax have increased 9.7 percent. All four of the accounts had growth in November and the three largest, withholding, declarations and net returns, grew between $17 million and $22 million.
• Sales and use tax receipts increased 3.4 percent in November. Year-to-date, this account has grown 5.9 percent.
• Property tax collections rose 7.5 percent for the month and are up 0.1 percent year-to-date.
• Cigarette tax receipts grew 18.9 percent in November and are up 0.4 percent for the first five months of the fiscal year.
• Coal severance tax receipts declined 23.2 percent in November and are down 9.9 percent year-to-date.
• Lottery revenues grew 3.5 percent to $29.5 million for the month and are up 3.3 percent for the year.
• Income on investments fell $3.3 million and are down 22.4 percent thus far in FY26.
Road Fund receipts for November totaled $142.3 million, a 3.4 percent decrease from November 2024 levels. Year-to-date Road Fund receipts have increased 0.4 percent. Based on collections through the first five months, Road Fund receipts can decline 5.0 percent over the balance of the fiscal year and still meet the official estimate of $1,812.2 million.
Motor fuels tax receipts fell 6.1 percent in November and are down 3.2 percent for the year. Motor vehicle usage tax collections rose 4.7 percent in November and have grown 3.7 percent through the first five months of the fiscal year. License and privilege receipts declined 14.9 percent for the month but have increased 5.7 percent for the year.
Office of State Budget Director