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Minnesota revenues below forecast

ST. PAUL -- Minnesota's state revenue for the past three months was $97 million below expectations.

That is a 2.1 percent drop, Minnesota Management and Budget reported Monday, Oct. 10.

All major taxes were below what earlier was expected. Still, the state collected nearly $4.5 billion in July, August and September.

The department reported that individual income tax receipts were $29 million lower than forecast. Sales taxes were down $28 million from what state official predicted earlier in the year. Corporate tax payments were down $18 million, 5.2 percent below what was planned.

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