tax revenue

Minnesota collected nearly 5 percent more in taxes in October than was anticipated.

Minnesota's government has scooped up $140 million more in taxes for January than finance officials had been counting on. But the rosy revenue numbers reflected in a report Monday could have downside to them.

Minnesota's revenue is doing better than expected in the new budget year after August tax collections beat expectations. Minnesota Management and Budget said Monday that the state took in $41 million, or 3.5 percent, more than anticipated in August, as individual income taxes and sales taxes came in well above projections.

The state of Minnesota is $148 million ahead of its revenue projections for the year after last month's tax collections beat expectations. Management and Budget Commissioner James Schowalter said Monday that May revenues were $32.3 million, or 2.5 percent, ahead of the February forecast.

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.

Minnesota took in $32 million more than anticipated during February and March as taxpayers withheld taxes on salary bonuses and businesses got smaller tax refunds. State Management and Budget officials updated their revenue outlook on Monday for the first time since they released a budget forecast at the end of February.