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EmailMinnesota Tax Collections Up $41M in August
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.
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