MISSISSIPPI

Joint Legislative Budget Committee

DELBERT HOSEMANN PHILIP GUNN
Lieutenant Governor Speaker of the House
SENATOR DEAN KIRBY REPRESENTATIVE JASON WHITE
President Pro Tempore Speaker Pro Tempore
SENATOR W. BRIGGS HOPSON III REPRESENTATIVE JOHN READ
Chair, Appropriations Committee Chair, Appropriations Committee
SENATOR JOSH HARKINS REPRESENTATIVE TREY LAMAR
Chair, Finance Committee Chair, Ways and Means Committee
SENATOR JOEY FILLINGANE Chair REPRESENTATIVE ANGELA COCKERHAM
Chair, Judiciary, Division B Chair, Judiciary A Committee
SENATOR JOHN HORHN DELBERT HOSEMANN, Lieutenant Governor REPRESENTATIVE C. SCOTT BOUNDS
Chair, Labor Committee Chair, Public Utilities Committee
SENATOR NICOLE BOYD TONY M. GREER, DIRECTOR REPRESENTATIVE PERCY W. WATSON
Vice Chair, Universities and Colleges Vice Chair, Ethics Committee
Legislative Budget Office
501 North West Street, Suite 201-B
Jackson, Mississippi 39201
601-359-1580 FAX 601-359-1629

 
 
MEMORANDUM

TO: Members of the Joint Legislative Budget Committee

FROM: Tony Greer, Director

Ava Bliss, Revenue Analyst

DATE: August 20, 2021

SUBJECT: FY 2022 Revenue Collections for July

Please see the attached Revenue Report as of July 31, 2021. 

 

 
Page | 1 Mississippi Legisla ve Budget Office
Mississippi Revenue Report
Revenue Report – FY 2022 July 2021

Comparison of Actual Revenue Collections 
July 31, 2021
Fiscal YTD
$60
$53.3 $53.3 Over Es mate
$50
$53.3M
$40

$30

$20 Month

$10 Over Es mate

$0
$53.53M

-$10 -$6.4

Month* Fiscal YTD* Prior Year**

FY 2022
Total revenue collec ons for the month of July FY
Source of Revenue Collections  Month*  FYTD*  Prior  2022 and Fiscal YTD 2022 through July are
Year**  $53,326,905 or 11.11% above the sine die
Sales Tax $24.2 $24.2 $131.5 revenue es mate. Fiscal YTD total revenue
collec ons through July 2021 are $-6,355,436 or -
Individual Income Tax 13.9 13.9 -76.9
1.18% below the previous year’s collec ons. The
Corporate Tax 2.4 2.4 -80.5 FY 2022 Sine Die Revenue Es mate is
$5,927,000,000.
Use Tax 0.4 0.4 11.6 FY 2021

Gaming Tax 6.5 6.5 4.4 As of July 31, 2021, total revenue collec ons for
FY 2021 were $6,741,012,015. When compared to
Total Collections $53.3 $53.3 $-6.4 the total General Fund appropria ons for FY 2021
of $5,576,886,000, the General Fund will end the
fiscal year with an es mated excess of $1,164
*Figures in millions above or below the Sine Die estimate
million.
**Figures in millions above or below the prior year’s actual collections
During FY 2021 close-out period of July and
August 2021, addi onal revenues may be
recorded, and subsequent adjustments could be
necessary.

Ava Bliss • Revenue Analyst • 501 N. West St., Suite 201-B, Jackson, MS 39201 • abliss@lbo.ms.gov • www.lbo.ms.gov
Page | 2
Mississippi Revenue Report

Comparison of Actual Revenue Collections by Tax Type
Sales Individual Income Corporate Use Gaming
$160.0
$140.0 $131.5
$120.0
$100.0
$80.0
$60.0
$40.0
$24.2$24.2
$20.0 $13.9$13.9 $11.6 $6.5 $6.5 $4.4
$2.4 $2.4 $0.4 $0.4
$0.0
-$20.0
-$40.0
-$60.0
-$80.0 -$76.7 -$80.5
-$100.0
Month* Fiscal YTD* Prior Year**
*Figures in millions above or below the Sine Die estimate **Figures in millions above or below the prior year's actual collections

The graph above compares the actual revenue collec ons to the sine die revenue es mate for each of the main tax revenue
sources. The figures reflect the amount the actual collec ons for Sales, Individual, Corporate, Use and Gaming taxes were
above or below the es mate for the month and fiscal year-to-date. The graph also compares fiscal year-to-date actual
collec ons to prior year actual collec ons, as of July 31, 2021.

10‐Year Historical Total Revenue  10‐Year Historical Revenue 
Collections by Fiscal Year* Collections by Tax Type
$7,000 $2,500
$6,750
$6,500 $2,000
$6,250
$6,000 $1,500
$5,750
$5,500 $1,000
$5,250
$5,000 $500
$4,750
$4,500 $0

*Figures do not include budget reduc ons or other transfers Sales Individual Corporate
used to balance the budget. Figures include A orney General
Use Gaming
Se lements for FY 2012 – FY 2021.

Ava Bliss • Revenue Analyst • 501 N. West St., Suite 201-B, Jackson, MS 39201 • abliss@lbo.ms.gov • www.lbo.ms.gov
Page | 3
Mississippi Revenue Report

Below is a chart showing FY 2022 year-to-date collec ons compared to prior year-to-date collec ons.
Over/(Under) Prior Year 
Source of Revenue Collections  FY 2021 July  FY 2022 July  Amount ($)  % Change 
Sales Tax $83,681,701 $215,184,461 $131,502,759 157.15%
Individual Income Tax 246,405,453 169,738,357 (76,667,096) -31.11%
Corporate Income Tax 92,732,106 12,266,707 (80,465,399) -86.77%
Use Tax 18,907,768 30,522,079 11,614,311 61.43%
Insurance Premium Tax 37,483,980 40,147,271 2,663,290 7.11%
Tobacco, ABC & Beer 24,959,322 23,742,818 (1,216,505) -4.87%
Oil & Gas Severance 1,269,755 2,279,259 1,009,503 79.50%
Gaming Tax 12,587,170 16,970,371 4,383,201 34.82%
Other Dept. of Revenue 10,355,962 9,239,846 (1,116,116) -11.00%
Other Than Dept. of Revenue 11,337,224 13,273,838 1,936,614 17.08%
Sub-Total 539,720,441 533,365,007 (6,355,436) -1.18%
All Other Transfers/Collections 0 0 0 0.00%
Total  $539,720,441   $533,365,007  $(6,355,436)  ‐1.18% 

Total Monthly Economic Statistics: 

Revenue Unemployment Rate
Collections*
Latest Change Frequency Date
$600
Mississippi 6.2% 0.1 Monthly Jun-21
$539.7 $533.3 United States 5.9% 0.1 Monthly Jun-21
$500
GDP (millions)  
Latest Change* Frequency Date
$400
Mississippi 104,131 6.8% Quarterly 2021:Q1
United States 19,055,700 6.1% Quarterly 2021:Q1

$300
Mississippi Employment (thousands)  
Latest Change Frequency Date
Total Nonfarm 1,132.6 0.6% Monthly Jun-21
$200 Total Private 898.0 0.4% Monthly Jun-21
July 2020 July 2021
*Annualized quarterly growth

*Figures in millions.

July FY 2022 General Fund collec ons were

$(6,355,436) or -1.18% below July FY 2021 actual
collec ons. Sales tax collec ons for the month of
July were above the prior year by $131.5M.
Individual income tax collec ons for the month of For a more detailed listed of revenue collec ons for the State
July were below the prior year by $76.7M. of Mississippi, please see the a ached MS Department of
Corporate income tax collec ons for the month
Finance and Administra on’s monthly Revenue Report.
of July were below the prior year by $80.5M.

Ava Bliss • Revenue Analyst • 501 N. West St., Suite 201-B, Jackson, MS 39201 • abliss@lbo.ms.gov • www.lbo.ms.gov
Mississippi Department of Finance and Administration 
Revenue Report 
 
As of July 31, 2021 
GENERAL FUND REVENUE FY 2022 - THROUGH 07-31-21 FISCAL YEAR 2022
Page 1
STATE OF MISSISSIPPI
ACTUAL ACTUAL OVER OR UNDER
ACTUAL COLLECTIONS ESTIMATE ESTIMATE COLLECTIONS ESTIMATE TO DATE
COLLECTIONS 07-01-20 FISCAL YEAR 07-01-21 07-01-21
SOURCE FY 2021 07-31-20 2022 07-31-21 07-31-21 AMOUNT PERCENT
DEPT. OF REVENUE COLLECTIONS:
SALES TAX (NET) $ 2,244,361,161 $ 83,681,701 $ 2,243,900,000 $ 190,970,000 $ 215,184,461 $ 24,214,461 12.68%
INDIVIDUAL INCOME TAX 2,226,159,994 246,405,453 1,883,600,000 155,780,000 169,738,357 13,958,357 8.96%
CORPORATE INCOME TAX 845,133,396 92,732,106 490,000,000 9,850,000 12,266,707 2,416,707 24.54%
USE TAX 408,776,281 18,907,768 385,300,000 30,060,000 30,522,079 462,079 1.54%
INSURANCE PREMIUM TAX 339,282,412 37,483,980 331,400,000 36,850,000 40,147,271 3,297,271 8.95%
TOBACCO TAX 145,655,089 13,578,115 140,900,000 13,190,000 12,426,025 (763,975) -5.79%
ABC DIVISION 108,642,038 9,082,743 94,000,000 7,267,000 8,719,172 1,452,172 19.98%
BEER AND WINE TAX 29,370,688 2,298,464 29,000,000 2,456,000 2,597,621 141,621 5.77%
OIL SEVERANCE TAX 16,416,775 1,195,404 15,000,000 1,250,000 2,094,202 844,202 67.54%
NATURAL GAS SEVERANCE TAX 1,766,228 74,351 1,800,000 150,000 185,057 35,057 23.37%
AUTO TAG FEES 13,262,073 1,227,363 9,300,000 846,000 785,663 (60,337) -7.13%
INSTALLMENT LOAN TAX 12,456,568 2,757,274 12,200,000 2,802,000 3,353,688 551,688 19.69%
PAYMENT IN LIEU OF TAX 1,200,000 0 1,200,000 0 0 0 0.00%
MISCELLANEOUS 10,761,838 6,371,325 11,600,000 7,005,000 5,100,495 (1,904,505) -27.19%
GAMING FEES & TAXES 153,724,705 12,587,170 120,000,000 10,400,000 16,970,371 6,570,371 63.18%
TOTAL DEPT. OF REVENUE: 6,556,969,247 528,383,218 5,769,200,000 468,876,000 520,091,168 51,215,168 10.92%

OTHER THAN DEPT. OF REVENUE COLLECTIONS:

INTEREST ON INVESTMENTS 12,815,238 64 12,500,000 100 16 (84) -83.68%
HIGHWAY SAFETY PATROL 19,984,049 1,768,924 18,700,000 1,441,000 1,535,171 94,171 6.54%
INSURANCE TAX 38,451,153 5,092,670 30,000,000 3,731,000 4,627,443 896,443 24.03%
LICENSES, FEES, PERMITS 62,293,972 2,431,240 52,000,000 2,625,000 2,669,480 44,480 1.69%
CRIME TAX/ASSESSMENT 39,068,063 1,314,873 37,200,000 2,320,000 3,531,053 1,211,053 52.20%
MISCELLANEOUS 2,612,710 183,142 2,400,000 115,000 138,924 23,924 20.80%
GAMING FEES & TAXES 4,704,143 546,312 5,000,000 930,000 771,750 (158,250) -17.02%
TOTAL OTHER THAN DOR: 179,929,328 11,337,224 157,800,000 11,162,100 13,273,838 2,111,738 18.92%
TOTAL GF - (Sine Die) COLLECTIONS 6,736,898,576 539,720,441 5,927,000,000 480,038,100 533,365,005 53,326,905 11.11%
SETTLEMENTS/OTHER 4,113,440 0 0 0 0 0 0.00%
WCSR TRANSFER IN 0 0 0 0 0 0 0.00%
OTHER NON BUDGET TRANSFER IN 0 0 0 0 0 0 0.00%
TRANSFER IN (BUD RED) 0 0 0 0 0 0 0.00%
OTHER BUDGETED GF COLLECTIONS 0 0 0 0 0 0 0.00%
TOTAL GENERAL FUND: $ 6,741,012,015 $ 539,720,441 $ 5,927,000,000 $ 480,038,100 $ 533,365,005 $ 53,326,905 11.11%

Prepared by: Mississippi Department of Finance and Administration

GENERAL FUND REVENUE FY 2022 - THROUGH 07-31-21
COMPARISON TO PRIOR YEAR COLLECTIONS
Page 2
07-01-20 07-01-21 INCREASE OR DECREASE
July July TO TO OVER OR UNDER PRIOR YEAR
SOURCE 2020 2021 07-31-20 07-31-21 AMOUNT PERCENT
DEPT. OF REVENUE COLLECTIONS:
SALES TAX (NET) $ 83,681,701 $ 215,184,461 $ 83,681,701 $ 215,184,461 $ 131,502,759 157.15%
INDIVIDUAL INCOME TAX 246,405,453 169,738,357 246,405,453 169,738,357 (76,667,096) -31.11%
CORPORATE INCOME TAX 92,732,106 12,266,707 92,732,106 12,266,707 (80,465,399) -86.77%
USE TAX 18,907,768 30,522,079 18,907,768 30,522,079 11,614,311 61.43%
INSURANCE PREMIUM TAX 37,483,980 40,147,271 37,483,980 40,147,271 2,663,290 7.11%
TOBACCO TAX 13,578,115 12,426,025 13,578,115 12,426,025 (1,152,090) -8.48%
ABC DIVISION 9,082,743 8,719,172 9,082,743 8,719,172 (363,571) -4.00%
BEER AND WINE TAX 2,298,464 2,597,621 2,298,464 2,597,621 299,156 13.02%
OIL SEVERANCE TAX 1,195,404 2,094,202 1,195,404 2,094,202 898,798 75.19%
NATURAL GAS SEVERANCE TAX 74,351 185,057 74,351 185,057 110,705 148.89%
AUTO TAG FEES 1,227,363 785,663 1,227,363 785,663 (441,700) -35.99%
INSTALLMENT LOAN TAX 2,757,274 3,353,688 2,757,274 3,353,688 596,413 21.63%
PAYMENT IN LIEU OF TAX 0 0 0 0 0 0.00%
MISCELLANEOUS 6,371,325 5,100,495 6,371,325 5,100,495 (1,270,829) -19.95%
GAMING FEES & TAXES 12,587,170 16,970,371 12,587,170 16,970,371 4,383,201 34.82%
TOTAL DEPT. OF REVENUE: 528,383,218 520,091,168 528,383,218 520,091,168 (8,292,050) -1.57%

OTHER THAN DEPT. OF REVENUE COLLECTIONS:

INTEREST ON INVESTMENTS 64 16 64 16 (47) -74.36%
HIGHWAY SAFETY PATROL 1,768,924 1,535,171 1,768,924 1,535,171 (233,752) -13.21%
INSURANCE TAX 5,092,670 4,627,443 5,092,670 4,627,443 (465,227) -9.14%
LICENSES, FEES, PERMITS 2,431,240 2,669,480 2,431,240 2,669,480 238,241 9.80%
CRIME TAX/ASSESSMENT 1,314,873 3,531,053 1,314,873 3,531,053 2,216,180 168.55%
MISCELLANEOUS 183,142 138,924 183,142 138,924 (44,218) -24.14%
GAMING FEES & TAXES 546,312 771,750 546,312 771,750 225,438 41.27%
TOTAL OTHER THAN: 11,337,224 13,273,838 11,337,224 13,273,838 1,936,614 17.08%
TOTAL GF - (Sine Die) COLLECTIONS 539,720,441 533,365,005 539,720,441 533,365,005 (6,355,436) -1.18%
SETTLEMENTS/OTHER 0 0 0 0 0 0.00%
WCSR TRANSFER IN 0 0 0 0 0 0.00%
OTHER NON BUDGET TRANSFER IN 0 0 0 0 0 0.00%
TRANSFER IN (BUD RED) 0 0 0 0 0 0.00%
OTHER BUDGETED GF COLLECTIONS 0 0 0 0 0 0.00%
TOTAL GENERAL FUND: $ 539,720,441 $ 533,365,005 $ 539,720,441 $ 533,365,005 $ (6,355,436) -1.18%

Prepared by: Mississippi Department of Finance and Administration

GENERAL FUND REVENUE FY 2022 - THROUGH 07-31-21
COMPARISON OF PRIOR YEAR/MONTHLY COLLECTIONS
Page 3
ESTIMATE OVER OR UNDER
July July July MONTHLY ESTIMATE
SOURCE 2020 2021 2021 AMOUNT PERCENT
DEPT. OF REVENUE COLLECTIONS:
SALES TAX (NET) $ 83,681,701 $ 190,970,000 $ 215,184,461 $ 24,214,461 12.68%
INDIVIDUAL INCOME TAX 246,405,453 155,780,000 169,738,357 13,958,357 8.96%
CORPORATE INCOME TAX 92,732,106 9,850,000 12,266,707 2,416,707 24.54%
USE TAX 18,907,768 30,060,000 30,522,079 462,079 1.54%
INSURANCE PREMIUM TAX 37,483,980 36,850,000 40,147,271 3,297,271 8.95%
TOBACCO TAX 13,578,115 13,190,000 12,426,025 (763,975) -5.79%
ABC DIVISION 9,082,743 7,267,000 8,719,172 1,452,172 19.98%
BEER AND WINE TAX 2,298,464 2,456,000 2,597,621 141,621 5.77%
OIL SEVERANCE TAX 1,195,404 1,250,000 2,094,202 844,202 67.54%
NATURAL GAS SEVERANCE TAX 74,351 150,000 185,057 35,057 23.37%
AUTO TAG FEES 1,227,363 846,000 785,663 (60,337) -7.13%
INSTALLMENT LOAN TAX 2,757,274 2,802,000 3,353,688 551,688 19.69%
PAYMENT IN LIEU OF TAX 0 0 0 0 0.00%
MISCELLANEOUS 6,371,325 7,005,000 5,100,495 (1,904,505) -27.19%
GAMING FEES & TAXES 12,587,170 10,400,000 16,970,371 6,570,371 63.18%
TOTAL DEPT. OF REVENUE: 528,383,218 468,876,000 520,091,168 51,215,168 10.92%

OTHER THAN DEPT. OF REVENUE COLLECTIONS:

INTEREST ON INVESTMENTS 64 100 16 (84) -83.68%
HIGHWAY SAFETY PATROL 1,768,924 1,441,000 1,535,171 94,171 6.54%
INSURANCE TAX 5,092,670 3,731,000 4,627,443 896,443 24.03%
LICENSES, FEES, PERMITS 2,431,240 2,625,000 2,669,480 44,480 1.69%
CRIME TAX/ASSESSMENT 1,314,873 2,320,000 3,531,053 1,211,053 52.20%
MISCELLANEOUS 183,142 115,000 138,924 23,924 20.80%
GAMING FEES & TAXES 546,312 930,000 771,750 (158,250) -17.02%
TOTAL OTHER THAN: 11,337,224 11,162,100 13,273,838 2,111,738 18.92%
TOTAL GF - (Sine Die) COLLECTIONS 539,720,441 480,038,100 533,365,005 53,326,905 11.11%
SETTLEMENTS/OTHER 0 0 0 0 0.00%
WCSR TRANSFER IN 0 0 0 0 0.00%
OTHER NON BUDGET TRANSFER IN 0 0 0 0 0.00%
TRANSFER IN (BUD RED) 0 0 0 0 0.00%
OTHER BUDGETED GF COLLECTIONS 0 0 0 0 0.00%
TOTAL GENERAL FUND: $ 539,720,441 $ 480,038,100 $ 533,365,005 $ 53,326,905 11.11%

Prepared by: Mississippi Department of Finance and Administration