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Taxes Exceed Expectations By $46M In October

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ST. PAUL, Minn. (AP) – October tax collections for Minnesota were $46 million ahead of earlier projections.

The monthly report from state budget officials is the last before an economic forecast that will determine how big of a deficit lawmakers will confront next year. That forecast will also examine spending commitments by the state as well as long-term tax trends.

Since July, the state has brought in $100 million more than anticipated.

In October, the individual income tax, sales tax and corporate tax were all better than expectations.

(© Copyright 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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