Florida’s September net general revenue ran $429.0 million over forecast, state report shows; corporate income tax was $463.1 million above its estimate

Florida collected $4,695.8 million in net general revenue in September, $429.0 million, or 10.1 percent, above the forecast adopted in August 2026 by the General Revenue Estimating Conference, the Legislature’s Office of Economic and Demographic Research reported.¹ The report’s file is dated Nov. 2. Its sales tax figures are marked unaudited.¹

Corporate income tax brought in $1,389.5 million, $463.1 million, or 50.0 percent, over its $926.4 million estimate. The report says the tax “accounted for all of the gain.”¹ The same tax brought in $813.0 million in September 2025, according to the office’s detailed tables.²

Sales tax

Sales tax collections were $2,864.3 million against a $2,881.7 million estimate, $17.3 million under.¹ Three of the six categories finished over estimate and three under. Consumer nondurables had the largest gain, $18.7 million, and business the largest shortfall, $22.2 million.¹

The report says September collections mostly reflect August activity. As context for the sales tax results, it lists a 3.8 percent personal saving rate in September, a 3.7 percent rise in the all-items consumer price index over the 12 months ending in September, and Federal Reserve Bank of New York figures showing total household debt down $13 billion in the second quarter from the first, with auto loan balances up $28 billion and credit card balances up $21 billion.¹

Other revenue sources

Apart from sales tax, 11 sources finished above their projections, for a gain the report puts at $501.6 million, and five finished below, for a loss it puts at $59.9 million. Severance taxes were on estimate.¹ Refunds were $4.6 million below estimate.¹

• Indian gaming: $117.7 million, $22.7 million over. The report ties the gain to the final “true up” for the 2025-26 revenue sharing cycle.¹
• Earnings on investments: $83.3 million, $36.3 million under.¹
• Documentary stamp tax: $55.8 million, $18.6 million under.¹
• Insurance taxes: $0.9 million, $3.8 million under. The report cites a timing issue.¹

The report also attributes gains in other nonoperating revenues, $3.8 million, and in other taxes, licenses and fees, $1.7 million, to timing issues.¹

Fiscal year to date

Through the first three months of the fiscal year, net general revenue totaled $12,186.7 million, $435.7 million over estimate and 3.8 percent above the $11,738.4 million collected in the same period a year earlier.¹ The August forecast for the full year is $52,339.9 million; the office’s newsletter says 23.3 percent of the year’s estimate has been collected.²¹

Corporate income tax stands at $1,702.5 million for the fiscal year so far, $488.5 million over estimate. Sales tax stands at $9,058.2 million, $51.7 million under.¹

What the records do not show

• Why corporate income tax exceeded its estimate. The report gives no explanation, and it does not name any taxpayer.¹
• Reasons for the shortfalls in earnings on investments and documentary stamp tax. The report lists the amounts without an explanation.¹
• Audited sales tax totals. The September sales tax data are marked unaudited.¹
• A printed release date on the newsletter, which carries only “September 2026”; Nov. 2 comes from the PDF file’s date. The detailed tables are stamped Oct. 27.¹²