State Tax Collections Top Expectations
Minnesota’s tax collections continued to exceed expectations during the final two months of last year.
The Minnesota Office of Management and Budget says overall revenues for November and December were about $212 million, or 6.4-percent, above the level predicted by the most recent state revenue forecast. The majority of the higher than expected revenue was from individual income tax payments, but officials caution the jump could be the result of the timing of payments rather than higher tax liabilities.
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