Minnesota government revenue dips in October
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(AP) - All of Minnesota's big three taxes dipped beneath expectations in October as the nation's economic troubles hit home.
A monthly revenue update from state budget officials shows that individual income taxes, corporate taxes and sales taxes were all lower than projected.
Combined they were $53 million lower than finance officials expected them to be for the month.
The poor numbers were offset a bit by $22 million gains in other, unspecified revenue.
For the year, however, tax receipts are slightly ahead of projections.
The monthly reports don't calculate spending patterns. A full economic picture is due early next month, and that will guide early budget deliberations at the Capitol in 2009.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
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