Releases

Revenue & Economic Update

IFO Releases

February 2023 Revenue Update

March 01, 2023 | Revenue & Economic Update

The Commonwealth collected $2.83 billion in General Fund revenues for February, an increase of $393.5 million (16.2%) compared to February 2022.

Tags: estimates, monthly, revenue

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January 2023 Revenue Update

February 01, 2023 | Revenue & Economic Update

The Commonwealth collected $3.57 billion in General Fund revenues for January, a decrease of $23.7 million (-0.7%) compared to January 2022. Due to a processing delay on the last day of the month, roughly $94 million of revenue that would normally have been receipted in January will be shifted to February.

Tags: estimates, monthly, revenue

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JANUARY 2023 MONTHLY ECONOMIC UPDATE

January 25, 2023 | Revenue & Economic Update

The January edition of our Monthly Economic Update includes links to recent articles and reports that provide insight into state or national economic, demographic and fiscal trends.

Tags: economic, monthly, update

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December 2022 Revenue Update

January 03, 2023 | Revenue & Economic Update

The Commonwealth collected $4.04 billion in General Fund revenue for December, an increase of $195.9 million (5.1%) compared to December 2021. The implementation of the Department of Revenue’s tax modernization project resulted in the shift of roughly $200 million of revenue that would normally have been receipted in November to December.

Tags: estimates, monthly, revenue

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December 2022 Monthly Economic Update

December 20, 2022 | Revenue & Economic Update

The December edition of our Monthly Economic Update includes links to recent articles and reports that provide insight into state or national economic, demographic and fiscal trends.

Tags: economic, monthly, update

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NOVEMBER 2022 REVENUE UPDATE

December 01, 2022 | Revenue & Economic Update

The Commonwealth collected $2.75 billion in General Fund revenue for November, a decrease of $3.87 billion (-58.4%) compared to November 2021. The implementation of the Department of Revenue’s tax modernization project resulted in the delay of roughly $200 million of revenue that would normally have been receipted in November to December.

Tags: estimates, monthly, revenue

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November 2022 Monthly Economic Update

November 21, 2022 | Revenue & Economic Update

The November edition of our Monthly Economic Update includes links to recent articles and reports that provide insight into state or national economic, demographic, and fiscal trends. 

Tags: economic, monthly, update

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October 2022 Revenue Update

November 01, 2022 | Revenue & Economic Update

The Commonwealth collected $3.12 billion in General Fund revenues for October, an increase of $310.8 million (11.0%) compared to October 2021.

Tags: estimates, monthly, revenue

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October 2022 Monthly Economic Update

October 24, 2022 | Revenue & Economic Update

The October edition of our Monthly Economic Update includes links to recent articles and reports that provide insight into state or national economic, demographic, and fiscal trends.

Tags: economic, monthly, update

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September 2022 Revenue Update

October 03, 2022 | Revenue & Economic Update

The Commonwealth collected $4.22 billion in General Fund revenues for September, an increase of $214.8 million (5.4%) compared to September 2021.

Tags: estimates, monthly, revenue

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