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

Latest News

Minn. Tax Collections Continue To Outpace Forecast

View Comments
(credit: Jupiter Images)

(credit: Jupiter Images)

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up
Today's Most Popular Video
  1. DeRusha Eats: Brake Bread
  2. Husband And Wife Die 15 Hours Apart
  3. Polk County Sheriff's Deputy Laid To Rest
  4. Como Zoo Animals Visit WCCO
  5. Troops Homecoming Sweetened By Local Girl Scouts

ST. PAUL, Minn. (AP) — Minnesota took in about $25 million more in tax revenue in May than was initially expected, as revenue collections for the year continue to perform above projections.

The Department of Minnesota Management and Budget says Monday that general fund revenues of $1.4 billion in May were 1.9 percent above the agency’s February forecast. In the year to date, the state has collected $324 million more than predicted in that forecast.

In May, the state collected more from the individual income tax and corporate income tax than was initially forecast. Sales tax collections were slightly down compared to the forecast.

State officials have said the upticks in revenue are largely due to the improving economic climate both in Minnesota and nationally.

(© 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 This material may not be published, broadcast, rewritten or redistributed.)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