Combined tax revenues in Minnesota decreased 16.2% in the third quarter of 2023 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.
Overall, Minnesota collected $8.5 billion in taxes during the third quarter of 2023, compared to $10.1 billion in the previous quarter.
The majority of the state’s tax revenue was collected through income taxes ($4.5 billion) and general sales and gross receipts taxes ($3.5 billion).
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.
| Type of Tax | Amount (millions) |
|---|---|
| Income Taxes | $4,548 |
| Sales and Gross Receipts Taxes | $3,455 |
| License Taxes | $316 |
| Other Taxes | $156 |
| Property Taxes | $25 |
Source: U.S. Census Bureau
