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Minnesota State Wire

Thursday, May 9, 2024

Minnesota's miscellaneous tax revenues down 16.7% in Q1 2023

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Paul Marquart Commissioner of Revenue at Minnesota Department of Revenue | Minnesota Department of Revenue

Paul Marquart Commissioner of Revenue at Minnesota Department of Revenue | Minnesota Department of Revenue

Minnesota collected $135 million in miscellaneous tax revenue during the first quarter of 2023, a 16.7% decrease from the previous quarter, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Miscellaneous tax revenue reached $162 million in the previous quarter.

Net sales reflect companies' total revenue stream, minus the costs of discounts, allowances and product returns.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q1 2023 Minnesota Tax Collections

Type of TaxAmount (millions)
Property Taxes$13
Sales and Gross Receipts Taxes$3,054
Income Taxes$4,420
License Taxes$420
Miscellaneous Taxes$135

Source: U.S. Census Bureau

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