Mississippi revenues up $202.8 million over estimates four months into fiscal year

Mississippi revenues up $202.8 million.

Key points

• The total revenue estimate for Fiscal Year 2027 was set at $7, 532, 400, 000.
• The Joint Legislative Budget Committee and Governor Tate Reeves (R) set the FY 2028 revenue estimate on Wednesday at $7.8 billion.
• Lawmakers, Governor expect higher revenues, adopt $7.8 billion estimated revenue for Fiscal Year 2028.
• Mississippi revenues exceeded legislative estimates by $79.5 million, or 11.5% over the revenue estimate for October.
• This adds to the state's four month fiscal year-to-date total revenue which is exceeding estimates by $202.8 million, or 8.13%.

Mississippi revenues up $202.8 million over estimates four months into fiscal year. By: Frank Corder – November 5, 2026.

Sales tax and individual income tax collections for the month of October were above the same month in the prior year by $20.3 million and $9.7 million, respectively. This comes even as Mississippi is phasing out its personal income tax.

In practice, the Joint Legislative Budget Committee published the October revenue report on Thursday additionally showing that Mississippi revenue collections for the month were $132.6 million, or 5.17% above the prior year's collections.

In practice, the total revenue estimate for Fiscal Year 2027 was set at $7, 532, 400, 000.

Corporate income tax collections were reportedly the same as the prior year.

General fund collections were $55.8 million, or 7.81% above the prior October's revenue collections.

Notably, the Joint Legislative Budget Committee and Governor Tate Reeves (R) set the FY 2028 revenue estimate on Wednesday at $7.8 billion. That amount is $266.4 million more than the Legislature's current fiscal year sine die estimate, state economist and chair of the Revenue Estimating Group Corey Miller informed the committee.

"I think that this revenue estimate is something that we should all be proud of because even as we have been literally cutting individual income taxes for our people for almost ten years now, overall tax revenues continue to grow, " Governor Reeves remarked after hearing the proposed revenue estimate. 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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Taken together, the developments around mississippi revenues up $202.8 million over estimates four months into fiscal year point to a situation that is still moving, and the coming days should bring more clarity.