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Illinois March General Funds Revenue Up 22% YOY on Income Taxes

April 5, 2022, 8:54 PM

Illinois’s general funds revenue from state sources increased 22% from a year earlier to $5.02 billion on higher collections from sales as well as personal and corporate income taxes, according to a report Tuesday from the Commission on Government Forecasting and Accountability.

  • Personal income tax collections in March rose 24% to $3.15 billion
  • Corporate income tax collections in the month increased 58% to $489 million
  • Sales taxes in March gained almost 14% to $892 million
  • Year-to-date in the fiscal year that started July 1 revenue from state sources has increased 13% to almost $35 billion

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