Minnesota Tax Collections Run Strong In April
ST. PAUL (AP) – Minnesota tax collectors say they brought in $69 million more than they were anticipating for April, the latest strong report on the state budget front.
The Department of Minnesota Management and Budget said the state is now running $100 million ahead of revenue expectations since February.
April’s gains were across several types of taxes, including individual income taxes and corporate taxes.
The report is limited to money coming into the state treasury and doesn’t shed new light on spending patterns. And for now, it won’t change the fact that lawmakers must fix a projected $5 billion deficit when setting the next two-year budget.
Officials always caution about reading too much into the monthly reports because timing of tax payments can throw the numbers off.
(Copyright 2011 by The Associated Press. All Rights Reserved.)