Minnesota's October tax collections beat target by $56 million

All segments of state taxes beat estimates, with strongest bump coming from higher-than-expected income tax collections.

November 12, 2013 at 10:37PM

Minnesota's tax collections in October beat expectations by more than $56 million.

The Minnesota Department of Revenue took in $1.6 billion for the month, about 3.6 percent higher than estimated.

Income tax collections came in at $718 million, about $30.3 million more than budget officials estimated.

Sales tax collections were $455 million, beating targets by 4.4 million.

The state took in $63.9 million in corporate income taxes, up $1 million over estimates.

Other revenue came in $20 million over estimates, at $362 million.

Budget officials warn not to read too much into monthly revenue statements. They can vary wildly based on a range of factors, including timing of tax payments.

about the writer

about the writer

Baird Helgeson

Deputy editor

Baird Helgeson is deputy local editor at the Star Tribune. He helps supervise coverage of local news. Before becoming an editor, he was an award-winning reporter who covered state government and politics. He has worked for news organizations in Minnesota, Florida and North Dakota.

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