News

Minnesota tax collections up $41M in August

Minnesota tax collections up $41M in August Click to Enlarge Photo:

Sep 11, 2012 at 7:16 am

ST. PAUL, MN (AP) - Minnesota's revenue is doing better than expected in the new budget year after August tax collections beat expectations.
 
Minnesota Management and Budget said Monday that the state took in $41 million, or 3.5 percent, more than anticipated in August, as individual income taxes and sales taxes came in well above projections.
 
The August revenue puts the state $31 million, or 1.4 percent, ahead of projections for the fiscal year that started in July. That's after July tax collections came in below expectations.
 
The numbers don't give a full picture of the state's budget, because they don't reflect spending. A more detailed report on revenues is due in October, followed by a full budget forecast in November.

 

JW Cox

Posted By JW Cox

Staff Writer

JW Cox's Profile

Leave a Comment

Current Weather

For Central Minnesota

Temp: 73°F (23°C)

Dewpoint: 55

Wind: 6 N

Weather: Clear

Full Forecast | Live Radar

Community Calendar