Illinois’ fiscal year 2026 (FY26) tax collections continue to outpace last year’s receipts, according to a report published by the Illinois Commission on Government Forecasting and Accountability (CGFA).

State tax revenues are up $473 million (2.8%) for the first four months of FY26 (July-October). Federal funds received by the state are also up $126 million, per the report.

Year to date through October:

• Personal income tax collections are up $177 million (1.9%)
• Corporate income tax collections are down $228 million (-14.1%)
• Sales tax collections are up $196 million (5.1%)
• Sports wagering tax collections are up $68 million (400%)
• Insurance tax and fee collections are up $26 million (11.4%)
• Estate tax collections are up $42 million (19.4%)

Despite these record tax collections, the governor’s office earlier this fall projected a $267 million deficit for FY26, which could increase to $5.27 billion by FY31.

For more details, the CGFA report can be found here.