Net general fund revenues totaled $4.667 billion in April, $1.115 billion (31.4 percent) more than forecast. Net receipts from individual, sales, and corporate taxes for the month exceeded the forecast, while net other tax revenues were lower than expected. For fiscal year 2022, year to date receipts are now $25.069 billion, $1.781 billion (7.6 percent) more than forecast. We estimate that about $540 million of the fiscal-year-to-date variance reflects the timing of pass-through entity (PTE) tax payments and refunds.

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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.