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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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.
Minnesota tax collections below January forecast
Minnesota Management and Budget reports general fund revenues were $107 million less than projected last month. Gov. Mark Dayton and legislators will get an update on the state's budget forecast February 29. The forecast in December showed Minnesota had an $876 million surplus.
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