abc
QUICK LINKS:

Minnesota Tax Collections Below Mark for 4th Month

Updated: 06/10/2014 4:21 PM
Created: 06/10/2014 4:20 PM WDIO.com

ST. PAUL, Minn. (AP) - For a fourth straight month, Minnesota's tax collections have come in slightly below expectations.

The Department of Minnesota Management and Budget reported Tuesday that the state took in $17 million less than anticipated in May. That's 1.1 percent below the amount officials estimated in a February long-range forecast. Income and corporate taxes missed the mark the most.

For the fiscal year, which closes this month, the state is $95 million below its revenue benchmark.

Officials stress caution in interpreting the monthly figures because they look only at the revenue side and don't account for changes in state spending patterns. They add that timing of individual income tax payments and refunds can shift the month-to-month figures.

A more-comprehensive report is due in July.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Front Page

  • Update: Teen Killed in Douglas Co. Crash

    The Douglas County Sheriff's Office says a Lake Nebagamon teenager was killed in a two-vehicle crash on Wednesday afternoon.  15-year-old Seth N. Stariah, a passenger in one of the vehicles, was pronounced dead at the scene.

  • Workers at the NOvA hall in Ash River assemble the final block of the far detector in early February 2014, with the nearly completed detector in the background. U of M Reaches Milestone with Ash River Neutrino Detector

    The University of Minnesota is celebrating a milestone in creating an experimental particle detector that it says could eventually yield important information about the beginning of the universe.

  • Missing Employee Found at Soudan Underground Mine State Park

    Authorities have located 76-year-old Adrienne De Vries at the Soudan Underground Mine State Park. De Vries is an employee of the park, and lost her way when walking down a trail. The St. Louis County Sheriff's Department says she was transported to Ely Hospital to get checked as a precautionary.

  • Sky High: Northlanders Blast Off on New Flyboard

    Here in the Northland, we're used to lakes, but a new toy is changing how we enjoy the water. The flyboard is making its Twin Ports debut. It's a water jet pack on a board that is hooked up to a jet ski. The water launches you up to 55 feet in the air.

  • Democrats Vying for Wisconsin's 25th Senate District Talk Mining

    Mining is a top issue in northern Wisconsin's legislative races, and a formal debate Wednesday night was no exception. Three democrats vying for the 25th Senate District seat explained their views during a public debate at the Great Lakes Visitor Center in Ashland.

 
Advertisement