Local

Minnesota Tax Collections Up $41M In August

View Comments
(credit: CBS)

(credit: CBS)

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up
Today's Most Popular Video
  1. WCCO Viewers Choice For Minnesota's Best Costume Shop
  2. Meet This Week's Pet Guest: Stormie Grey!
  3. 'Operation Warm' Raising Money To Give Kids Winter Coats
  4. 4 Things To Know For Oct. 24, 2014
  5. Hopkins Teammates Form A Close Bond Off The Field

ST. PAUL, Minn. (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.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

View Comments
blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 1,917 other followers