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Minnesota tax collections up $41M in August

9:42 PM, Sep 10, 2012   |    comments
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ST. PAUL, Minn. -- Minnesota's revenue is doing better than expected in the new budget year after August tax collections beat expectations.      

Minnesota Management and Budget said Monday that the state took in $41 million, or 3.5 percent, more than anticipated in August, as individual income taxes and sales taxes came in well above projections.      

The August revenue puts the state $31 million, or 1.4 percent, ahead of projections for the fiscal year that started in July. That's after July tax collections came in below expectations.      

The numbers don't give a full picture of the state's budget, because they don't reflect spending. A more detailed report on revenues is due in October, followed by a full budget forecast in November.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)