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Minnesota State Wire

Monday, November 4, 2024

Minnesota's miscellaneous tax revenues down 3.7% in Q3 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 $156 million in miscellaneous tax revenue during the third quarter of 2023, a 3.7% 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.

Q3 2023 Minnesota Tax Collections

Type of TaxAmount (millions)
Property Taxes$25
Sales and Gross Receipts Taxes$3,455
Income Taxes$4,548
License Taxes$316
Miscellaneous Taxes$156

Source: U.S. Census Bureau

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