General fund net revenues totaled $1.9 billion in May, $7 million (0.4 percent) less than forecast. Net receipts from net individual income, corporate, and sales taxes were less than forecast, and other tax receipts were above the forecast. Fiscal Year 2023 receipts are now $26.9 billion, $303 million (1.1 percent) more than 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.