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Illinois Tax Revenues up in August

Illinois Tax Revenues up in August

September 9, 2025

After starting off slow in July, FY 26 revenues rose in August

Illinois tax revenues climbed in August following a lackluster July, according to a report from the Commission on Government Forecasting and Accountability (CGFA).

Personal income tax receipts were up $66 million year-over-year in August (3.7%), sales tax receipts climbed $46 million year-over-year (4.8%), and estate tax receipts were up $12 million year-over-year (23.5%).

Corporate income tax receipts continued to lag, down $30 million year-over-year (-29.4%). The state also experienced year-over-year declines in insurance taxes and fees (-$11 million) and interest on state funds and investments (-$55 million).

The state took in $22 million in August from its new sports wagering tax and transferred $205 million from its Income Tax Refund Fund to the General Revenue Fund. Altogether, total state fund transfers increased state receipts by $189 million year-over-year in August.

Accounting for all state tax receipts and transfers, total state receipts rose $212 million year-over-year (6.3%).

Chart from CGFA
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