Minnesota’s net general fund receipts for FY 2019 are now estimated to total $23.393 billion, $636 million (2.8 percent) more than projected in the February 2019 Budget and Economic Forecast.

Net tax receipts exceeded the forecast for all major types. General fund revenues for FY 2019 are now estimated to be 6.1 percent greater than in FY 2018. State revenues in the final quarter of FY 2019 were $552 million more than forecast. (See page 3 for details.) Net individual income tax receipts are estimated to end the year $450 million (3.8 percent) more than forecast. Gross income tax receipts were $427 million above the forecast, and refunds were $22 million less than expected.

View complete July 2019 Monthly Revenue Review, including tabular data