(The Center Square) – Louisiana tax collections increased in May compared with the previous month, but major state revenues remain hundreds of millions of dollars below last year’s pace, according to the latest figures from the Department of Revenue May Net Receipts Report.
The state collected $1.09 billion in total net receipts in May, an increase of nearly $110 million from April. However, major state revenues remain below last year’s pace, with Louisiana reporting $10.1 billion through May compared with $10.95 billion at the same point last year, an $838 million decline.
The largest monthly gain came from individual income tax collections, which increased from $262.2 million in April to $361 million in May. General sales tax collections also climbed from $436.7 million to $487.3 million.
Severance tax collections also increased month over month, rising from $29.5 million in April to $40 million in May. Gasoline and special fuels collections were relatively unchanged, moving from $53.8 million to $52.4 million.
Year-to-date totals show a different trend. Severance collections remained slightly below last year’s pace at $316.9 million compared with $324.1 million, while gasoline and special fuels collections were nearly even with the previous year.
Corporate income and franchise taxes posted the largest monthly decline among major categories, falling from $152.4 million in April to $97.5 million in May, a drop of about $55 million.
The longer-term revenue picture remains uneven.
The biggest year-over-year gain came from sales taxes. Collections reached $4.84 billion through May, up from $4.18 billion last year. That represents a $665 million increase, or 16%.
The largest declines came from income-based taxes.
Individual income tax collections totaled $3.45 billion through May 2026, compared with $4.34 billion last year, a decrease of $894 million, or 21%. Corporate income and franchise taxes fell from $1.22 billion to $607.5 million, a drop of roughly $610 million, or 50%.
The May report shows most categories remain near state revenue projections. Sales taxes, individual income, motor fuels and severance collections are running between 101% and 102% of forecast targets. Corporate income and franchise collections remain below projections at 95%.
