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Contributors in Minnesota: Patrick Condon, Baird Helgeson, Patricia Lopez, Jim Ragsdale, Abby Simons, Rachel E. Stassen-Berger and Glen Stubbe. Contributors in D.C.: Allison Sherry, Corey Mitchell and Jim Spencer.

October state tax revenue beats target

Posted by: under Gov. Mark Dayton, Minnesota legislature, Democrats, Republicans, State budgets Updated: November 9, 2012 - 4:18 PM

Minnesota’s tax collections continue to beat projections, with October revenue experiencing a $56 million uptick over estimates.

The state took in $1.41 billion for the month, up 4.1 percent from projections.

Individual income taxes, business taxes and sales taxes all beat targets, according to Minnesota Management and Budget.

Minnesota took in $603 million from state income taxes, $7.7 million more than estimated.

For fiscal year 2013, the state has taken in $5.1 billion, $201.2 million more than projected.
 

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