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.
published April 10, 2025
Minnesota’s net general fund receipts for February and March total an estimated $3.7 billion, $244 million (7%) more than forecast. Net individual income tax receipts were above forecast and net corporate franchise tax and sales tax slightly below. Other revenues were slightly above forecast.
View the full memo, including tabular data.
Note: 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.
