Louisiana Tax Revenues Grow for Sixth Consecutive Month

BATON ROUGE (The Center Square) — According to the latest report, Louisiana’s tax revenues are higher than last year’s for the sixth consecutive month.

In June, year-to-date revenues are up by $788 million or 7% over the previous fiscal year, coming in at $12.53 billion compared with $10.17 billion in 2021 and $11.75 billion in 2022.

Revenues for the month of June were nearly $1.25 billion, up from $1.09 billion in fiscal 2022 and $1.14 billion in fiscal 2021. 

- Sponsors -

Sales tax revenues were down compared to the previous two Junes, shrinking to $316 million after collecting $395 million last year and $322 million in 2021. Year-to-date sales tax is still up 3% ($111 million) compared to 2022.

June individual income tax revenues added up to $399 million, up from $366 million last year, but down from 2021, when Louisiana collected $545 million. This year’s income tax revenues are still 1% great ($64 million) than the prior year so far. 

Severance tax revenues were up to $84 million in June, up $67 million in June 2022 and $29 million in 2021. Year-to-date, collections are up $396 million compared to 2022 or an increase of 83%. 

- Partner Content -

Entergy’s Energy Smart Program Brings Cost Conscious Innovation to New Orleans

Offering comprehensive energy efficiency at no cost to the consumer, Entergy’s Energy Smart program incentivizes Entergy New Orleans customers to perform energy-saving upgrades in...

The state’s corporate franchise tax was also up, with June’s collections totaling $356 million, compared with $185 million in June 2022 and $150 million in June 2021. 

Digital Sponsors / Become a Sponsor

Follow the issues, companies and people that matter most to business in New Orleans.

Email Newsletter

Sign up for our email newsletter