Minnesota Tax Collections Run Ahead of Projections Again
ST. PAUL (AP) - Led by strong income and sales tax collections, Minnesota state government has again pulled in more than it was counting on.
The Department of Minnesota Management and Budget said Tuesday that collections were $4 million ahead of expectations. That puts Minnesota about $140 million above forecast levels since July.
All but corporate taxes beat expectations.
This is the last monthly update prior to a comprehensive economic forecast due in a few weeks. That report will offer an early glimpse at the anticipated surplus lawmakers will have at their disposal in the 2016 session.
Tuesday's report looks only at revenue so officials caution about drawing too many assumptions from the figures.