Updated:
Original:

Minnesota collected $212M more in taxes than it expected

Author:

The amount of money in Minnesota's general fund is $212 million more than expected, the state's Management and Budget Office said Monday.

The fund – which is the main pool of tax money the state uses for operating costs – totaled about $3.5 billion during the final two months of 2014, which was above what officials had predicted earlier in the fall.

Why?

Well, the office says individual income tax provided the biggest boost in additional revenue. That accounted for about $166 million of the unpredicted extra.

In addition, retail sales have exceeded expectations in recent reports, the office says. This may be because really cheap gas prices have freed up money for people to spend elsewhere.

Click here to read the full report.

The state's lawmakers are back in session, and for the next few months will be debating what to do with what is already a projected $1 billion surplus. Both the Republicans and Democrats have their own ideas about where the state's money should go.

Next Up

twin city gardens

In rare move, MDH takes control of Minneapolis nursing home

The temporary receivership is to ensure resident safety.

Sen Mark Koran crop

Lawmaker deletes post encouraging donations to family charged in Capitol riot

Sen. Mark Koran, in his Facebook post, described them as "a good family!"

Screen Shot 2021-05-27 at 11.04.26 AM

Mother charged with beating daughter to death ruled incompetent

The case against the Woodbury woman will be put "indeterminately suspended."

msp airport

Employers at MSP Airport seeking to hire 700-plus workers

Employers include restaurants, retail, hotel, airlines and security.

Screen Shot 2021-10-23 at 9.38.43 PM

Driver who died in Hwy. 100 embankment rollover is identified

The 30-year-old was killed in the Saturday evening crash.

best buy

Best Buy launches another pre-Black Friday sale, the Early Deals Event

This latest round of discounts is available through Oct. 31.

dave chappelle

Dave Chappelle to perform at Target Center in Minneapolis

The comedian is screen his new documentary at part of the 10-city tour.

Screen Shot 2021-10-25 at 7.06.08 AM

U.S. soccer hero Megan Rapinoe signs her mural at St. Paul bar

Rapinoe paid a visit to The Black Hart ahead of a match at Allianz Field Tuesday.

hospital, emergency room

1 dead after married couple crash UTV in southern Minnesota

The crash happened just after 11 p.m. Saturday.

Related