Revenue Assessment Report for March 2026 available

Revenue Assessment Report for March 2026 available

Published on Tuesday, April 21, 2026

Providence, R.I. ,-- The Office of Revenue Analysis (ORA) today released its FY 2026 Revenue Assessment Report for March 2026. This monthly report compares adjusted general revenues by source on a fiscal year-to-date and monthly basis to expected general revenues by source. Expected general revenues are estimated by ORA from the revised estimates adopted at the November Revenue Estimating Conference (REC) on November 10, 2025.

March Year-To-Date Performance. ORA finds that FY 2026 adjusted general revenues through March led the revised FY 2026 estimates through March with a variance of $44.2 million, or 1.2%. Most of this variance was due to business taxes being up by $54.9 million. Personal income tax was below expectations by $10.0 million, attributable to weakness in final payments largely due to a decrease in elective pass-through entity payments. Sales and use tax revenue led the estimate by $1.8 million, or 0.1%.

March Monthly Performance. ORA finds that March 2026 adjusted general revenues led the revised estimates by $38.2 million, a variance of 9.8%. This variance was driven by combined business taxes being up by $21.0 million. Personal income tax revenue had a variance of 14.7%. Final payments (inclusive of elective pass-through entity payments) were down by 18.6%, which is a decrease in revenue of $13.6 million. Offsetting this negative variance were withholding payments and refunds and adjustments, which were net positive $18.8 million and $11.8 million respectively. Sales and use tax revenue trailed the estimate by $3.2 million, or 2.7%. March 2026 sales and use tax revenue reflects February 2026 activity.

The entire report can be found on the Department of Revenue's web site at https://dor.ri.gov/revenue-analysis/fy26-state-revenue-data.

Questions or comments on the report should be directed to Paul Grimaldi, Chief/Program Development, by e-mail at [email protected] or by phone at (401) 378-1080.