WCCO EYE4 LOGO WCCO Radio wcco-eye-white01, ww color white

Local

Minn. Tax Collections Up $114M In Nov-Dec

View Comments

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

ST. PAUL, Minn. (AP) — Minnesota collected more tax revenue than forecast in November and December.

Minnesota Management and Budget said Thursday that the state took in $114 million, or 3.9 percent, more than anticipated during the last two months of 2012.

Corporate income taxes came in $93 million more than forecast and accounted for most of the additional revenue. Individual income taxes also exceeded the forecast, but recent sales taxes came in less than expected.

The department cautions that the greater-than-expected revenues appear to be more likely related to one-time items and timing that increased economic activity.

The numbers don’t give a full picture of the state’s budget, because they don’t reflect spending.

(© Copyright 2013 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 This material may not be published, broadcast, rewritten or redistributed.)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 1,857 other followers