Tuesday, October 12, 2010

Sept. MN, MI Tax Revenues Higher Than Expected

1. Income tax revenue is coming in higher than expected in Michigan, a sign that more people are working or earning more money. Gov. Jennifer Granholm said Monday that the state general fund is expected to have about $100 million more than state economists estimated in May when the books are closed on the budget year that ended Sept. 30.

2.  Minnesota tax collectors took in $55 million more than expected from July through September.  In the last snapshot of the state budget before the Nov. 2 election, Minnesota Management and Budget released an economic update on Monday. The brightest spots were sales and corporate taxes.

That brings the total to 11 states that are reporting either higher than expected tax revenues in September, or gains compared to September of last year, see CD post


At 10/12/2010 11:29 AM, Blogger juandos said...

Considering recent federal government spendthrift ways these tax dollars might make some very small difference...

At 10/12/2010 12:03 PM, Blogger BlogDog said...

While I understand the idea behind the metric, I'm not all that thrilled that government, which can compel its revenues by force, is doing so well.

At 10/12/2010 1:19 PM, Blogger VangelV said...

Michigan is just as close to bankruptcy today as it was a few months ago.

At 10/12/2010 3:40 PM, Blogger Michael Hoff said...

Now they'll spend it. Then they'll need more.


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