Net general fund revenues totaled $1.562 billion in May, $74 million (4.9 percent) more than forecast in the February 2018 Budget and Economic Forecast. Net individual income and other tax revenues were larger than forecast, more than offsetting lower than expected net sales and corporate tax revenues. So far in fiscal year 2018, net individual income tax collections that are connected to tax year 2017 are estimated to be $273 million above forecast. Total year to date receipts are now $19.339 billion, $332 million (1.7 percent) higher than forecast.

View complete May 2018 Revenue Review memo