Monthly and Quarterly Updates
Between each Budget and Economic Forecast, Economic Analysis prepares monthly and quarterly updates.
The Revenue and Economic Update is published quarterly in January, April, July, and October of each year. The Revenue and Economic Update reports how actual revenue collections for the current year compare to the previous forecast and notes changes in the national and state economic outlook.
The Monthly Revenue Review is prepared in February, March, May, June, August, September, November, and December. The Monthly Revenue Review reports how actual revenue collections for the current year compare to the previous forecast.
Latest: January Revenue and Economic Update
published January 10, 2022
Minnesota’s net general fund receipts for November and December of 2021 are now estimated to total $4.954 billion, $833 million (20.2 percent) more than forecast in the November 2021 Budget and Economic Forecast. However, a substantial portion of December collections are Pass-Through Entity Tax (PTE) estimated payments that will be credited against business owners’ individual income tax liability for TY 2021, lowering income tax final payments and raising refunds in CY 2022. We estimate that about $471 million of the $833 million overall variance arises from this timing shift.
View the full memo, including tabular data