The state’s net tax collections in February approached $2.13 billion, for an increase of $94.2 million, or 4.6%, compared to February 2024, when net tax collections totaled $2.03 billion for the month.
State officials said Monday year-to-date, net tax revenue collections totaled $21.53 billion, for an increase of $379.2 million that was driven chiefly by the collection of the state’s motor fuel excise tax, which was suspended by Executive Order for a period of two and a half months during FY 2024.
Adjusting for the motor fuel tax changes, year-to-date net tax revenue collections for the period ending Feb. 28 were down $82.7 million, or 0.4%.