Net general fund revenues totaled $1.497 billion in May, $20 million (1.3 percent) less than projected. Net receipts from individual income and sales taxes for the month exceeded the projection, while corporate tax receipts and other revenues were lower than expected. For fiscal year 2020, year to date receipts are now $19.016 billion, $9 million (0.0 percent) less than projected.

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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.