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Department of Revenue: State collected $11 billion in FY2025; corporate receipts fell amid expensing and tax changes
Summary
The Department of Revenue told the Senate Finance Committee it collected $11 billion in FY2025, remitting about $7.2 billion to the general fund; leaders highlighted dips in corporate income receipts tied to accelerated depreciation and noted operational updates including a new ABC warehouse and a product-registration workload.
The Department of Revenue reported to the Senate Finance Committee that it collected $11,000,000,000 in fiscal year 2025 and remitted about $7,200,000,000 of that to the state general fund.
"At the end of the year, we had collected $11,000,000,000 for the state," said the Agency official representing the Department of Revenue, who gave the committee a two-page highlights sheet and a spreadsheet of historical collections. The presentation showed major transfers to the general fund as well as diversions to education, transportation and local governments.
The presenter identified sales tax and individual income tax as the largest revenue streams. He told senators that while the department recorded nearly $4.3 billion in total sales-tax receipts, roughly $2.8–2.9 billion flowed to the general fund after statutory…
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