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April Monthly Revenue Review

Minnesota's net general fund revenues totaled $1.716 billion in April, $12 million (0.7 percent) more than projected. Net receipts from individual income, sales, and corporate taxes for the month exceeded the projection, while other revenues were lower than expected. Normally, most tax year 2019 individual income tax payments would be made in April, however, this year taxpayers may delay final and extension payments until July 15. For fiscal year 2020, year to date receipts are now $17.519 billion, $12 million (0.1 percent) more than projected.

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.