ST. PAUL, Minn. – Tax collections exceeded expectations for the year’s third quarter, the Minnesota state Budget Office reported. General fund revenue was almost $6 billion. — 12.4% more than projected. The breakdown:
> Income tax: 5.1% more than projected.
> Sales tax: 9.7%.
> Corporate tax: 90%.
Overall state revenues for the fiscal year that ended June 30 were 11.2% higher than forecast. Nobody could be happier than state lawmakers as they prepare for their 2022 session with expectations that the final revenue report for the year will show another budget surplus.