Minnesota Revenues Hit $3.67 Billion in April

St. Paul, MN (KROC-AM News) - State revenues were modestly higher than forecast last month.

The Minnesota Office Management and Budget is reporting that overall net general fund revenues totaled about $3.67 billion in April. That was approximately $16 million, or about a half of a percentage point, above the level predicted by the most recent state revenue forecast issued in late February.

For the current fiscal year, net general revenues have reached a little over $24.7 billion. That is $258 million, or 1.1%, above the forecast.

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The monthly report from the state shows individual income tax payments and sales tax payments came in lower than expected. The income tax payments totaled $2.358 billion, which was about $68 million below the projection. The sales tax payments were $43 million less than forecast at about $579 million.

Corporate tax payments beat the forecast by about $22 million, while other revenues from various fees and miscellaneous charges were about $105 million higher than forecast at $329 million.