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Minnesota State Wire

Saturday, November 23, 2024

Minnesota's miscellaneous tax revenues up nine percent in Q3 2020

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Minnesota collected $170 million in miscellaneous tax revenue during the third quarter of 2020, a nine percent increase over the previous quarter when $156 million was reported, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

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.

Q3 Minnesota Tax Collections
Type of TaxAmount (millions)
Property Taxes$34
Sales and Gross Receipts Taxes$2,663
Income Taxes$4,613
License Taxes$347
Other Taxes$170
Source: U.S. Census Bureau

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