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Revenue & Economic Update

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.


Latest: October Revenue Review

November 13, 2017

Read Complete Document (pdf version)

SUMMARY

Net general fund revenues totaled $1.700 billion in October 2017, $35 million (2.1 percent) more than forecast. Higher than expected net corporate tax and other receipts offset sales tax receipts that were slightly below the forecast. Net income tax receipts matched the forecast for October. For fiscal year 2018, year to date receipts are now $6.258 billion, $31 million (0.5 percent) less than forecast.

All results are preliminary and subject to revision. Monthly revenue variances should be interpreted with great caution. Wide swings in variances may be caused by variations in the rate at which receipts are received and processed and differences in the rate at which refunds are issued. Other revenues often include unallocated accounts receivable which will be added to receipts for the appropriate tax when identified. A more detailed report covering the October, November, and December receipts will be issued as part of Minnesota Management and Budget’s January Revenue and Economic Update.

See source document for tables and charts

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