KRFO-AM logo
Get our free mobile app

St. Paul, MN (KROC-AM News) - The State of Minnesota continues to collect taxes at a level that is significantly higher than predicted.

For the month of May, Minnesota's net general fund revenues totaled nearly $1.9 billion. According to the Minnesota Management and Budget Office, that was $535 million, or about 40 percent higher than expected.

google
google
loading...

Individual income tax payments came in $488 million higher than projected, while corporate tax payments exceeded the February forecast by $8 million. Miscellaneous other revenues were $50 million above the projection, while sales tax revenues came in $11 million below the expected level.

For the current fiscal year, general fund revenues now total nearly $27 billion. That is a bit over $2.3 billion, or 9.4-percent higher than the number predicted by the February State Revenue Forecast.

10 Things to Know about Thursdays Downtown in Rochester, Minnesota

One of the best events in Rochester, Minnesota is back on the calendar. Here are 10 things to know before you head out to enjoy the fun at Thursdays Downtown.

More From KRFO-AM