Minnesotans Continue to Pay More Than Predicted in Taxes
Get our free mobile app
St. Paul, MN (KROC-AM News) - Just days after releasing a new state revenue forecast that projects a record-setting state budget surplus of more than $7.7 billion dollars, the state is reporting tax collections last month exceeded the brand-new forecast
The Minnesota Office of Management and Budget says overall net general fund revenues in November totaled just over $1.8 billion. That was $78 million, or 4.5 percent, higher than predicted.
Individual income tax payments were $36 million above the forecast, while sales tax revenues exceeded the projection by about $28 million. Corporate tax collections totaled $65 billion, which beat expectations by $15 million.
30 Things People in Minnesota, Iowa, and Wisconsin Hate About Winter
When you think of the Midwestern states like Minnesota, Iowa, and Wisconsin, some people immediately think that we are freezing all the time. That's not 100% true, just about 56% true. In fact, being cold and freezing is something that most of us don't really appreciate about the winter months. That's not the only thing that we despise though. Check out the rest and see how may you give a thumbs up to.