Minn. official says tax take below mark for July - WXOW News 19 La Crosse, WI – News, Weather and Sports |

Minn. official says tax take below mark for July

ST. PAUL, Minn. (AP) - Minnesota has missed its tax collection projections in July by about $21 million.

The shortage is reflected in a Department of Minnesota Management and Budget memo released Monday. But officials caution that the results are preliminary and subject to change.

The state began its new fiscal year in July with a state budget that raises taxes on high incomes, tobacco and some previously exempt purchases.

In all, Minnesota took in just shy of $936 million in taxes, about 2.2% less than anticipated.

The report looks only at tax collections and doesn't assess spending patterns. The memos typically aren't used in setting the budget.

A more-detailed picture is due in October. It will determine the amount of state IOUs to schools that will be repaid.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WXOW. All Rights Reserved.
For more information on this site, please read our Privacy Policy, Terms of Service and Mobile Privacy Policy & Terms of Service.

Persons with disabilities who need assistance with issues relating to the content of this station's public inspection file should contact Administrative Assistant Theresa Wopat at 507-895-9969. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at fccinfo@fcc.gov.