Net general fund revenues totaled $1.466 billion in May, $63 million (4.1 percent) less than forecast in the February 2017 Budget and Economic Forecast. Net individual income tax receipts in May were $117 million lower than forecast, more than offsetting larger than expected net receipts from the sales tax, corporate tax, and other revenues. So far in fiscal year 2017, net individual income tax collections that are clearly connected to tax year 2016 are estimated to be $235 million below forecast. Total year to date receipts are now $18.328 billion, $126 million (0.7 percent) lower than forecast.

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