(The Center Square) – Wisconsin tax collections were down an adjusted 8.8% in May compared to May 2025 but the state’s fiscal year tax collections remain up 3.7% from a year before, according to new numbers released from the state’s Department of Revenue.

Individual income tax collections were down 19.3% for the month but are up 1.7% year over year for the fiscal year with more than $9 billion collected compared to nearly $8.8 billion the year before.

The state changed several income tax requirements for the 2025 tax year, which are currently being collected, including expanding the state’s second income tax bracket of 4.4% and exempting the first $24,000 of retirement income for those who are at least 67 before the end of a tax year with a maximum exemption of $48,000 for married couples.

The tax bracket change was expected to impact tax collections by $323 million this fiscal year while the retirement exemption impacted collections by $395 million.

Overall, the state has collected nearly $19.2 billion this fiscal year compared to $18.5 billion at this point in fiscal 2025.

Sales and use tax collections in the state were up 3.9% in May and are up 4.5% for the fiscal year from nearly $6.4 billion to nearly $6.7 billion.

Corporate tax collections are also up 8.8% for the fiscal year from nearly $2.3 billion to nearly $2.5 billion.