MN State Revenues up largely due to sales and franchise taxes, despite dip to income tax collections

(St. Paul, MN) -- State revenues in Minnesota are exceeding expectations despite a drop in income tax collections last month.  

The state Office of Management and Budget says revenue for February was $25-million dollars above the amount forecasted for the month. Though individual income tax numbers were off by $26 million, sales and franchise taxes and other revenue sources were $51 million dollars above expectations.

Total general fund revenue was nearly $1.4 Billion dollars in February.