Net general fund revenues totaled $2.2 billion in August, $187 million (9.1%) more than forecast in February. Individual income tax revenues continue to be above the February forecast due primarily to higher than forecast withholding. Other revenues are also above forecast because of high investment income and unusually high estate tax revenues. FY 2025 year-to-date receipts are now $4.2 billion, $197 million (4.9%) more than forecast.

• View the full memo, including tabular data
• Visit the Economic Forecast Monthly and Quarterly Updates landing page

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.