Revenue Assessment Report for May 2026 available

Revenue Assessment Report for May 2026 available

Published on Friday, June 12, 2026

Providence, R.I. -- The Office of Revenue Analysis (ORA) today released its FY 2026 Revenue Assessment Report for May 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 May Revenue Estimating Conference (REC) on May 8, 2026. This is the first report to use the revised May 2026 REC estimates.

May Year-To-Date Performance. ORA finds that FY 2026 adjusted general revenues through May trailed the revised FY 2026 estimates through May with a variance of $(19.9 million), or -0.4%. Most of this variance was due to personal income tax being down by $21.1 million, attributable to weakness in withholding payments. Sales and use tax revenue led the estimate by $0.9 million, or 0.1%.

May Monthly Performance. After each REC, ORA resets the year-to-date variance to estimates on the assumption that this variance was accounted for in the conference process. This means that for May the year-to-date variance and monthly variance are the same.

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.