Minnesota Tax Collections Topped Expectations in May
ST. PAUL, Minn. (AP) — May was a strong money month for Minnesota's tax collectors.
The Department of Minnesota Management and Budget said Wednesday that the state took in $53 million more than anticipated in tax collections last month. That's about 3.7 percent ahead of expectations. All told, there was almost $1.5 billion generated.
The overage puts Minnesota $413 million in front of projections for the fiscal year that ends June 30.
The monthly report looks only at revenue and doesn't factor in state spending patterns. The next full budget forecast won't be out until after Thanksgiving.