Minnesota Tax Revenues Exceed Forecast by 4.2% in August

St. Paul, MN (KROC-AM News)- August was a strong month for Minnesota’s tax collections.

A monthly update from the Office of Minnesota Management and Budget shows the state’s net general fund revenues for August totaled $2.14 billion. That is $86 million, or 4.2%, higher than forecast.

Individual Income Taxes Lead Stronger Collections

The report says individual income tax collections continued to lead the way with higher-than-predicted withholding. Payments last month totaled $1.11 billion, which is $56 million above the level projected by the most recent state revenue forecast issued in February.

Minnesota Management and Budget

State sales tax revenues came in $38 million higher than forecast at $741 million, while corporate tax payments fell $21 million short of the projection. Revenues from fees and other miscellaneous sources totaled $244 million, which is $13 million higher than expected.

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For the current fiscal year, which runs through next June, total state general fund revenues are at $4.27 billion. The state agency says that is $22 million, or half a percentage point, above forecast.

Minnesota's Best Restaurants You Can Boat Up To

Minnesota, as the Land of 10,000 Lakes, has a lot of great restaurants and bars right on the water. While there are many with beautiful lakeside views, not everyone has the option to boat up to enjoy some time at the establishment.

While this is by no means a complete list of every bar and restaurant you can boat up to in Minnesota, these are the top-rated ones according to online reviews.

NOTE: These are in no particular order.

Gallery Credit: Nick Cooper - TSM Duluth