News of the Day August 28, 2026
New Estimates Put State Budget Surplus Above $3 Billion

Wisconsin collected $450 million more in taxes and fees last fiscal year than earlier estimates, putting the state on track for an estimated $3 billion budget surplus, according to preliminary figures released Thursday by the Department of Revenue.

The extra revenue included $231 million above estimates in individual income taxes, $84 million in corporate income and franchise taxes, and nearly $80 million in sales and use taxes.

Overall collections totaled $23.1 billion for the fiscal year that ended June 30, a 3.4% increase from the prior year and 2% more than the Legislative Fiscal Bureau’s mid-January estimate of $22.7 billion.

The state collected $10.6 billion in individual income taxes, $8.2 billion in sales and use taxes, and $3 billion in corporate income and franchise taxes.

The department cautioned that the figures are unaudited and subject to final review by the State Controller’s Office before the Department of Administration’s Annual Fiscal Report, scheduled for Oct. 15. The Legislative Audit Bureau also audits the state’s annual comprehensive financial report, typically released in December.

The stronger collections come after the nonpartisan Legislative Fiscal Bureau in January projected a surplus of roughly $2.3 billion to $2.5 billion by the end of the current two-year budget cycle on June 30, 2027. That was already a sharp improvement from earlier forecasts.