State Tax Receipts Down Slightly

August 17, 2017 at 12:13 pm

According to Minnesota Management & Budget (MMB), July state tax receipts totaled $975 million. This amount was roughly $66 million below forecast, and follows an agency report that revenues for fiscal year 2017 were 0.5% lower than projections.

Variations in month-to-month tax receipts are not unusual, as the timing of tax collections can be hard to predict. In October, MMB will release a three-month economic update that will provide a closer look at the trendlines in tax receipts, and a late November budget forecast will set the stage for the 2018 legislative session.

Entry filed under: Featured Articles, Public Policy | Government Affairs.

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