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MN Tax Revenues Exceed Projections by $463M

Minnesota's tax revenues for the budget year that ended June 30 came in $463 million ahead of forecast.

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Governor Mark Dayton
Governor's Office handout photo
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Dayton Makes No Promises About Tax Plan Changes

Gov. Mark Dayton says Minnesota taxpayers will benefit from a smaller-than-expected budget deficit, but don't expect drastic changes to his tax plan. State budget officials announced Thursday that lawmakers will need to tackle a $627 million budget deficit for the next biennium.

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Minnesota State Capitol
Flickr user TBoard
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MN Collects More Taxes, Warns of Fiscal Cliff

Minnesota collected more taxes than expected in the latest quarter, a bright sign ahead of a comprehensive budget forecast due in early December.

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GaryQ, Flickr
GaryQ, Flickr
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Local Lawmakers React to News of Budget Surplus [AUDIO]

Minnesota lawmakers got an early Christmas present today (Thursday), a budget forecast of an estimated $876 million surplus for the rest of this two-year budget.

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Public Domain Photos, Flickr
Public Domain Photos, Flickr
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Minnesota Budget Forecast Likely to be More Bad News

Minnesota lawmakers are braced for bad news with Thursday's release of a state economic forecast. Expectations at the Capitol are for somewhere between $500 million to $1 billion in red ink in the state general fund.

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MnScu logo
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UPDATE – MnSCU May Send 6,000 Layoff Notices On Friday

The Minnesota State Colleges and Universities system will send layoff notices to 6,000 employees Friday if it can't work out a deal to get access to its money in a state government shutdown.

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Governor Mark Dayton
Governor's Office handout photo
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Dayton Floats Smaller Tax Hike; GOP Not Interested

Gov. Mark Dayton says he is willing to meet the Republican Legislature halfway with a smaller income tax increase as end-of-session budget talks begin. The Democratic governor outlined a new proposal Monday, raising the level for a new top-tier income tax bracket and dropping a property tax on homes worth more than $1 million.

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Money
Getty Images
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Minnesota Tax Collections Run Strong In April

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.

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Mark Dayton
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Dayton: No Gambling In Minnesota Budget Proposal

Gov. Mark Dayton says he doesn't expect to include new gambling dollars in the state budget he will present in two weeks.

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