Minn. taxes exceed expectations by $46M in October

ST. PAUL, Minn.

October tax collections for Minnesota were $46 million ahead of earlier projections.

The monthly report from state budget officials is the last before an economic forecast that will determine how big of a deficit lawmakers will confront next year. That forecast will also examine spending commitments by the state as well as long-term tax trends.

Since July, the state has brought in $100 million more than anticipated.

In October, the individual income tax, sales tax and corporate tax were all better than expectations.