Minn. October tax revenues beat forecasts

Published 5:28 am Sunday, November 11, 2012

ST. PAUL — Minnesota tax revenues beat expectations in October, continuing a trend.

Preliminary estimates show the state collected more than $1.4 billion in October. That’s 4.2 percent more than forecast.

Minnesota Management and Budget officials said October individual income tax, sales tax and corporate income tax collections all exceeded estimates.

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For the 2013 fiscal year, the state has taken in $5.1 billion. That’s $201.2 million more than projected.

A comprehensive budget forecast for the state is due in early December.