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Minnesota tax revenues $100 million higher than projected

Minnesota Management and Budget officials say revenue from both income and sales tax are more than originally forecast. The latest projections in February showed Minnesota had a $323 million surplus.
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Minnesota Management and Budget officials say revenue from both income and sales tax are more than originally forecast. The latest projections in February showed Minnesota had a $323 million surplus.

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Minnesota tax revenue in August beats projections

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Strong tax collections in May puts Minnesota ahead of revenue projections

Management and Budget Commissioner James Schowalter says better-than-expected sales tax collections last month helped pad Minnesota's budget. Since February, tax revenues have surpassed estimates by $148 million. An economic update will be released next month and a new budget forecast will be issued in November.

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Revenue to Minnesota's general fund during the last two months of 2011 beat the forecast, thanks largely to more people working. Spending remains tight, though, and sales tax receipts are lagging.