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January 2025
Biennial Revenue Estimate
Sales Taxes and Total Tax Collections
Sales taxes, which have accounted for more than half of all annual state GR-R tax collections since fiscal 1988, are the state's largest source of tax revenue. They are projected to make up 59 percent of tax collections for all funds, excluding trusts, in fiscal 2026-27. Tax collections that soared after the easing of COVID-related restrictions in fiscal 2022 and 2023 will continue to grow in fiscal 2025 through 2027 — but at a slower pace than the historical average, reflecting a return to more typical economic conditions and the ongoing reaction of consumers and businesses to higher interest rates aimed at easing and controlling inflation.
Sales Taxes and Total Tax Collections for All Funds, Excluding Trusts
Historical and Estimated Annual Percent Change
Annual Tax Collections
View data.
| Fiscal Year | Sales Tax Collections (in millions) | Percent Change (Sales Tax) | Total Tax Collections (in millions) | Percent Change (Total) |
|---|---|---|---|---|
| 1996 | $10,791 | $19,763 | ||
| 1997 | $11,340 | 5.1% | $21,188 | 7.2% |
| 1998 | $12,459 | 9.9% | $22,634 | 6.8% |
| 1999 | $13,069 | 4.9% | $23,615 | 4.3% |
| 2000 | $13,977 | 6.9% | $25,284 | 7.1% |
| 2001 | $14,663 | 4.9% | $27,230 | 7.7% |
| 2002 | $14,516 | -1.0% | $26,279 | -3.5% |
| 2003 | $14,277 | -1.6% | $26,127 | -0.6% |
| 2004 | $15,417 | 8.0% | $27,913 | 6.8% |
| 2005 | $16,313 | 5.8% | $29,838 | 6.9% |
| 2006 | $18,275 | 12.0% | $33,544 | 12.4% |
| 2007 | $20,270 | 10.9% | $36,956 | 10.2% |
| 2008 | $21,604 | 6.6% | $41,358 | 11.9% |
| 2009 | $21,014 | -2.7% | $37,822 | -8.5% |
| 2010 | $19,630 | -6.6% | $35,369 | -6.5% |
| 2011 | $21,479 | 9.4% | $38,856 | 9.9% |
| 2012 | $24,191 | 12.6% | $44,079 | 13.4% |
| 2013 | $25,944 | 7.2% | $47,781 | 8.4% |
| 2014 | $27,386 | 5.6% | $50,993 | 6.7% |
| 2015 | $28,911 | 5.6% | $51,683 | 1.4% |
| 2016 | $28,246 | -2.3% | $48,476 | -6.2% |
| 2017 | $28,900 | 2.3% | $49,643 | 2.4% |
| 2018 | $31,937 | 10.5% | $55,585 | 12.0% |
| 2019 | $34,024 | 6.5% | $59,381 | 6.8% |
| 2020 | $34,099 | 0.2% | $57,380 | -3.4% |
| 2021 | $36,020 | 5.6% | $61,473 | 7.1% |
| 2022 | $42,972 | 19.3% | $77,211 | 25.6% |
| 2023 | $46,581 | 8.4% | $82,146 | 6.4% |
| 2024 | $47,160 | 1.2% | $81,874 | -0.3% |
| 2025* | $48,808 | 3.5% | $83,359 | 1.8% |
| 2026* | $51,217 | 4.9% | $87,186 | 4.6% |
| 2027* | $53,208 | 3.9% | $91,181 | 4.6% |
| Average 1996-2024 | 5.4% | 5.2% |
* Note: Values for fiscal years 2025, 2026 and 2027 are estimated in the 2026-27 Biennial Revenue Estimate.