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Tax revenues beat forecast

Tax revenues beat forecast Click to Enlarge Photo:

Nov 10, 2012 at 9:24 am

ST. PAUL, Minn. (KNSI) Minnesota tax revenues beat expectations in October, continuing a trend.

Preliminary estimates show the state collected more than $1.4 billion in October. That's 4.2 percent more than forecast.

Minnesota Management and Budget officials say October individual income tax, sales tax and corporate income tax collections all exceeded estimates.

For the 2013 fiscal year, the state has taken in $5.1 billion. That's $201.2 million more than projected.

A comprehensive budget forecast for the state is due in early December.

Mike Tanner

Posted By Mike Tanner

News Director

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