November state revenue beats target, budget officials say
December 10, 2012 — 4:19pm
Minnesota’s revenue picture continued to beat projections in November, taking in nearly $10 million more than expected.
Sales tax revenue had the strongest improvement last month, taking in $383.7 million, nearly $4 million more than projected by Minnesota Management and Budget.
Individual income tax collections were off slightly, coming in at $615.3 million, about $200,000 below target.
Corporate income taxes accounted for $8 million, about $1.6 million less than expected.
An economic snapshot released last week by Minnesota Management and Budget revealed that the state will end the fiscal year about $1.3 billion better than projected, money that by law must go to repay K-12 public schools.
For the next two-year budget cycle, forecasters are anticipating a deficit of $1.1 billion.
A Duluth native who just barely lost Virginia's GOP gubernatorial primary said that politicians have not gone far enough in condemning the left for violence during a rally of white nationalists in Charlottesville. "I think that the left is going to try to use this as an excuse to crack down on conservative free speech," said Corey Stewart. "I think they're going to try to use this as an excuse to remove more historical monuments."