Net Minnesota tax collections were $2.47 billion in April, up nearly 12 percent from officials' projections in February, the Minnesota Management and Budget Office (MMB) reported Monday.

Revenues collected from individual income taxes, exceeded expectations, generating $1.85 billion, about $265 million more than previously forecast. Revenue from corporate franchise taxes were down $13 million from previous projections. 

Sales tax receipts for April were $405 million, in line with projections. 

MMB officials caution that the figures are preliminary and subject to revision.