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.
