Minnesota tax collections lagged a little behind expectations in April, coming in at $1.7 billion.
Overall income tax, sales tax and corporate taxes were off a combined $12 million, about 0.7 percent below the forecast.
Individual income tax withholding in April was off the most, down $19 million. April sales tax receipts were up $17 million over the forecast, a rise of 4.3 percent over predictions.
For fiscal year 2014, tax collections are at $15.371 billion, $78 million below estimates.
Minnesota Management and Budget officials said in a statement that monthly revenue reports can swing wildly and “should be interpreted with caution.”
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The state lost nearly $1 billion in taxpayer income following the 2013 increase, because working-age folks voted with their feet.
Minnesota Management and Budget says state tax collections in November and December exceeded projections by $43 million.
Even states with a surplus face difficult choices.
Tax revenue for November totaled $1.43 billion, coming in $9 million short of expectations.
State + Local
Minnesota tax collections in August were 0.7 percent below a previous forecast.