Illinois tax collections are up $1.6 billion year-over-year for fiscal year 2026 (FY26) through the end of January, according to the Illinois Commission on Government Forecasting and Accountability (CGFA). This uptick in tax receipts reflects a 5.3% increase from fiscal year 2025 (FY25).

Federal transfers to the state are down $202 million from FY25, meaning the state’s revenue from combined state and federal sources is up $1.4 billion (4.2%) for FY26.

Year-over-year through January 31:

–  Personal income tax collections are up $655 million (3.8%)

–  Corporate income tax collections are down $176 million (-6.1%)

–  Sales tax collections are up $336 million (4.8%)

–  Estate (death) tax collections are up $209 million (60.4%)

–  Insurance tax and fee collections are up $53 million (17.4%)

–  Lottery collections are up $37 million (8.4%)

–  Gaming tax collections are up $58 million (47.9%)

–  Sports wagering tax collections are up $107 million (137.2%)

The state’s tax amnesty program provided a one-time $357.4 million bump to Illinois’ tax collections in FY26, according to the report.

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