Illinois tax collections have increased by $1.6 billion for fiscal year 2026 through the end of January, according to the Illinois Commission on Government Forecasting and Accountability (CGFA). This represents a 5.3% rise compared to the same period in fiscal year 2025.
Federal transfers to Illinois decreased by $202 million from last year. As a result, total revenue from both state and federal sources is up by $1.4 billion, or 4.2%, for fiscal year 2026.
A breakdown of the year-over-year changes through January 31 shows that personal income tax collections rose by $655 million, an increase of 3.8%. Sales tax collections also grew by $336 million, or 4.8%. Estate tax collections saw a significant jump of $209 million, which is a 60.4% increase.
Other notable changes include insurance tax and fee collections rising by $53 million (17.4%), lottery collections increasing by $37 million (8.4%), gaming tax collections going up by $58 million (47.9%), and sports wagering tax collections climbing by $107 million (137.2%). However, corporate income tax collections declined by $176 million, a decrease of 6.1%.
The CGFA report notes that the state’s tax amnesty program provided a one-time boost of $357.4 million to Illinois’ FY26 tax receipts.
Further details are available in the full CGFA report.
