The Department of the Treasury reported Jan. 16 that December revenue collections for the major taxes totaled $5.166 billion, up $433.9 million, or 9.2% over the same month a year ago.
The revenue growth was driven primarily by the Gross Income Tax (GIT), while the Sales and Use Tax (SUT) and Corporation Business Tax (CBT) collections were down. Fiscal year-to-date total collections of $19.502 billion are higher by $896.1 million, or 4.8% above last year, currently over the fiscal year 2026 Appropriations Act certified growth rate of 3.3%.
December collections for the GIT, which are dedicated to the Property Tax Relief Fund, totaled $2.047 billion, up $335.5 million, or 19.6% above last year. All four GIT components registered increases in revenues, but refunds were higher as well. The revenue growth was influenced by an extra Wednesday withholding payment compared with last December.
GIT collections would have been up by $39.0 million, or 1.9% above last year, after adjusting for the extra withholding payment. Fiscal year-to-date collections of $8.463 billion are up by $961.9 million, or 12.8%.
The SUT, the largest General Fund revenue source, totaled $983.0 million, down $44.6 million, or 4.3% lower than last December. Because of a one-month lag in the reporting and payment of the Sales Tax, December revenues reflect consumer activity in November, while Sales Tax receipts in January will reflect holiday shopping in December. Fiscal year-to-date collections of $5.675 billion are up $158.9 million, or 2.9% above last year.
The CBT, the second -largest General Fund revenue source, totaled $704.2 million, down $20.9 million, or 2.9% below last December. The reduction was primarily because of lower estimated payments, partially made up for by higher final payments and partnership payments, and by lower refunds. Fiscal year-to-date collections of $1.353 billion are down $678.8 million, or 33.4% below last year.
The weakness in CBT revenues this fiscal year continues to be driven by significantly higher refunds, many of which have been claimed for tax periods prior to 2024, and substantial declines in both final and estimated payments.
Pass-Through Business Alternative Income Tax (PTBAIT) revenues totaled $1.082 billion in December, up $184.2 million, or 20.5% above last year. PTBAIT revenues increased primarily due to higher collections from estimated payments and substantially lower refunds. Fiscal year-to-date revenues of $2.040 billion are higher by $287.5 million, or 16.4% above last year.
Petroleum Products Gross Receipts Tax (PPGRT) revenues in December of $124.5 million were higher by $5.2 million, or 4.3% over last December. Fiscal year-to-date collections of $656.8 million are up by $34.1 million, or 5.5% above last year. The scheduled increase in the PPGRT of 4.2 cents per gallon took effect on Jan. 1, 2026, and will begin impacting revenues in the February report, due to the one-month lag in reporting.
Casino revenues totaled $81.2 million in December, an increase of $24.0 million, or 42.0% above last year. The increasing popularity of online gaming and sports betting are two of the main drivers behind the growth in casino revenues.
Collections this fiscal year will also be impacted by the enactment of P.L.2025, Chapter 66 (eff. July 1, 2025), which increased Internet casino gaming and sports wagering taxes. Fiscal year-to-date revenues of $405.2 million are running $123.8 million, or 44.0% above last year.
