Net general fund receipts for February and March total an estimated $3.8 billion, $182 million (4.6%) under forecast. Net individual and corporate franchise taxes and other revenues were below forecast while sales tax revenues were slightly above.

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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.