The state's tax collections in February and March totaled $2.41 billion, falling about $11 million short of projections due to a soft economy, the state's budget office reported Monday.
Individual income taxes paid were $995 million, $59 million less than expected for the months of February and March, according to the Minnesota Management and Budget office. Corporate tax payments exceeded expectations, netting $374 million.
Economists in recent months have warned that global economic factors are dragging on the U.S. Reports showed that the country's gross domestic product, the value of goods and services produced, were revised downward for the end of 2015.
Minnesota's labor market remains relatively strong, driven by job gains in construction and the service sector.
