Minnesota’s net general fund receipts for the first quarter of FY 2022 are now estimated to total $5.974 billion, $657 million (12.4 percent) more than forecast in the February 2021 Budget and Economic Forecast. Net receipts exceeded the projection for all major tax types.

• 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.