Minnesota’s net general fund receipts for November and December of 2022 are now estimated to total $5.162 billion, $217 million (4.4 percent) more than forecast in the November 2022 Budget and Economic Forecast. Income tax receipts were below the forecast for the period, receipts from corporate and other taxes were higher than forecast, and sales tax receipts nearly matched the 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.