Minnesota’s net general fund receipts totaled $3.938 billion during the months of November and December 2017, or $219 million (5.9 percent) more than projected in the November 2017 Budget and Economic Forecast. Receipts for the individual income tax, corporate tax, and other revenues were higher than expected for the quarter, while net sales tax receipts nearly matched the forecast. 

Net individual income tax receipts during the last two months of 2017 were $143 million (8.0 percent) more than forecast. Higher than expected gross tax receipts offset income tax refunds that were larger than forecast. (See page 3 for details.)

Read more about the December 2017 Revenue Review