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Contributors in Minnesota: Jennifer Brooks, Baird Helgeson, Patricia Lopez, Jim Ragsdale, Rachel E. Stassen-Berger and Glen Stubbe. Contributors in D.C.: Kevin Diaz and Corey Mitchell.
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State revenues dip slightly in July
Posted by: Jim Ragsdale under Minnesota governor, Minnesota legislature Updated: August 10, 2012 - 2:53 PM
July was not a great month for state tax collections, according to the state's financial officials.
Net revenues for the general fund were $921 million for the month, which is $11 million, or 1.2 percent, less than was predicted in the budget forecast. The state cautions that these are preliminary numbers and could be revised in the state's fall economic update.
Collections of individual income taxes and sales taxes were below estimates, while collections of corporate income taxes were above estimates.
The monthly memo was issued by Minnesota Management and Budget.
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