In between each Budget & Economic Forecast , we also prepare a quarterly Revenue & Economic Update in January, April, July and October of each year. The Revenue & Economic Update reports on how actual revenue collections for the current year compare to the previous forecast as well as provide notes on changes in the national and state economic outlook.
July 10, 2014
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Minnesota’s net general fund receipts for FY 2014 are now estimated to total $19.258 billion, $168 million (0.9 percent) more than projected in the February 2014 Budget and Economic Forecast adjusted for legislative changes. State revenues for the final quarter of FY 2014 were $235 million more than forecast. Higher than expected individual income tax receipts more than account for the total revenue variance, with positive variances in the general sales tax and other revenues nearly offsetting a shortfall in corporate taxes. General fund revenues in FY 2014 are now estimated to be 7.3 percent greater than in FY 2013.
>> April 2014 Revenue & Economic Update (pdf)