Minnesota revenues below forecast
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.