Minnesota revenue collections have shattered expectations yet again. February saw $43 million more than finance officials were banking on. Figures released Tuesday by the Department of Minnesota Management and Budget said that amount was 5.7 percent ahead of projections.
Minnesota collected nearly 5 percent more in taxes in October than was anticipated. Minnesota Management and Budget said Monday it collected just under $1.7 billion, $75 million more than forecast. Tax collections for the fiscal year, which started in July, are slightly ahead of projections. October marks the second consecutive month that tax collections have come in high in a year where the state’s monthly collections have generally lagged.
Minnesota’s tax collections for July have come in $69 million below expectations. The Department of Minnesota Management and Budget released its monthly revenue Monday. It shows the state took in 6.6 percent less than was forecast.