Mississippi’s March revenue exceeds estimates by $20.5 million

Mississippi’s revenue collections in March came in $20.5 million above estimates, according to a report from the Legislative Budget Office released Monday. The state collected $3.8 million more than the prior year for the month, a 0.7% increase.

For the fiscal year, which has three months remaining, the state’s total revenue is $120 million, or 2.32% above the estimate. Year-to-date collections through March total $80.2 million, a 1.54% increase over last year, with a full-year estimate of $7.552 billion.

Sales tax collections in March rose by $7.2 million compared to the previous year, and individual income tax revenue increased by $1.2 million, despite Mississippi’s phased reduction of the income tax. However, corporate income tax collections fell short, dropping by $6.4 million from March 2025.

Lawmakers recently approved a budget of just under $7.4 billion for the upcoming 2027 fiscal year before adjourning for districts. The revenue surplus reflects continued growth in key areas despite some declines in others, the report shows.

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