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May revenue for state of Minnesota higher than expected

Posted by: Jennifer Brooks under Funding, State budgets Updated: June 10, 2013 - 1:36 PM

Minnesota brought in $1.4 billion into the state coffers in May, 1.9 percent higher than the February forecast had estimated.

So far this year, the state has raised $324 million more in net general fund revenues than expected. The results are preliminary and could change when the final tax payments are calculated in July.

Preliminary estimates from Minnesota Management and Budget found income and corporate tax revenue up for the month, balancing out a slight dip in sales tax revenue.

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