Minnesota’s net general fund receipts for the first quarter of FY 2025 are estimated to total $7.6 billion, $234 million (3.2%) more than forecast in February. Net receipts exceeded forecast amounts for individual income tax and other revenues while corporate and sales tax revenues were below forecast.

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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.