Press Release
Department of Revenue Collections, January FY2021 General Purpose Revenue ($ in thousands – rounded)
| Collections for Month | Collections to Date | |||||
| Revenue Source | FY20 | FY21 | % change | FY20 | FY21 | % change |
| Individual Income | 1,194,672 | 1,082,709 | -9.4% | 5,199,480 | 5,122,192 | -1.5% |
| Adjusted | 1,118,481 | 1,313,801 | 17.5% | 5,199,480 | 5,426,031 | 4.4% |
| General Sales & Use | 573,920 | 592,659 | 3.3% | 3,059,740 | 3,110,794 | 1.7% |
| Corporate | 77,856 | 156,584 | 101.1% | 837,206 | 1,355,143 | 61.9% |
| Excise Taxes | 56,735 | 55,103 | -2.9% | 358,412 | 354,672 | -1.0% |
| Other | 6,545 | (11,574) | -276.8% | 234,778 | 243,802 | 3.8% |
| Total GPR | 1,909,728 | 1,875,480 | -1.8% | 9,689,616 | 10,186,604 | 5.1% |
| Adjusted | 1,833,536 | 2,106,572 | 14.9% | 9,689,616 | 10,490,443 | 8.3% |
This report includes general purpose revenue (GPR) taxes collected by the Wisconsin Department of Revenue and does not include taxes collected by the Office of the Commissioner of Insurance, administrative fees, and other miscellaneous revenues. Total General Fund tax collections are reported in the Department of Administration’s Report of Monthly General Fund Financial Information, which includes GPR and program revenue taxes collected by all state agencies.
Notes:
- In Fiscal Years (FY) 2020 and 2021, the adjusted lines exclude withholding that was received on the first working day of January, rather than the last day of December, which was a holiday. In FY21, the adjusted lines include withholding that was received on the first working day of February, rather than the last day of January, which was a weekend. The Collections to Date in FY21 were also affected.
- Individual Income includes 60.7% of pass-thru withholding. Corporate Income includes the remaining 39.3%.
- The Other category includes estate, utility, and real estate transfer tax collections. Every year there is a large transfer out of the utility accounts. In 2020 this transfer occurred in December, but in 2021 it occurred in January. This accounts for the large decline in the Other category for the month of January.
- Total does not include insurance premium taxes.
- This report is generated from the STAR Accounting System. Timing differences may cause the amounts in this report to differ from reports produced by the Department of Administration.
- All data are preliminary and unaudited.
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.
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