Mississippi’s August revenue collections come in $51 million above estimate

Mississippi's August revenue collections come in $51 million above estimate.

Key points

• Lawmakers set the total revenue estimate for Fiscal Year 2027 at $7, 532, 400, 000.
• August General Fund collections were $53, 023, 485, or 10.10% above the same month in the prior fiscal year.
• Fiscal year-to-date revenue collections through August were $71, 726, 867, or 6.52% above the revenue estimate.
• August collections were $51, 141, 604, or 9.71% above the revenue estimate for the month.
• The report from the Joint Legislative Budget Committee additionally demonstrated that the unemployment rate in Mississippi declined by 0.2% in July, down to 3.6%.

Mississippi's August revenue collections come in $51 million above estimate. By: Frank Corder – September 2, 2026. (Photo from Governor's 2024 EBR).

As all came in above the same month in the prior fiscal year, driving the growth were sales tax collections, individual income tax collections, and corporate income tax collections.

Mississippi revenues outpaced legislative estimates again in August, pushing the first two months of the current fiscal year to $71.7 million above estimates.

Fiscal year-to-date revenue collections through August were $71, 726, 867, or 6.52% above the revenue estimate. The July and August collections combined came in above the year-to-date revenue collections for the prior year by $59, 707, 651, or 5.36%.

Sales tax collections for the month of August were above the prior year by $12.3 million while individual income tax collections and corporate income tax collections totaled $20.9 million and $5.6 million, respectively, above the prior year.

For context, the only line item that came in below the year-to-date collections compared to the prior year was the Medical Cannabis Excise Tax.

For context, the report from the Joint Legislative Budget Committee additionally demonstrated that the unemployment rate in Mississippi declined by 0.2% in July, down to 3.6%. The national average unemployment is 4.1%.

Non-farm employment additionally rose to its highest level in July, with almost 1.2 million Mississippians employed. That number was a 0.3% uptick from the prior report. Regarding the Author(s).

Frank Corder is a native of Pascagoula. For almost two decades, he has noted and offered analysis on administration, public policy, business and matters of faith. Frank's interviews, articles, and columns have been shared throughout Mississippi as well as in national publications. He is a frequent guest on radio and television, providing insight and commentary on the inner workings of the Magnolia State. Frank has served his community in both elected and appointed public office, hosted his own local radio and television programs, and managed private businesses all while being an engaged husband and father. Email Frank: [email protected].

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For now, mississippi’ s August revenue collections come in $51 million above estimate remains the part of the story worth watching, and further updates are likely as more details are confirmed.