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Minnesota State Wire

Sunday, December 22, 2024

Minnesota's miscellaneous tax revenues down 25.9% since Q4 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 $120 million in miscellaneous tax revenue during the fourth quarter of 2023, a 25.9% decrease from the same period the previous year when $162 million was reported, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

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.

Q4 2023 Minnesota Tax Collections

Type of TaxAmount (millions)
Property Taxes$314
Sales and Gross Receipts Taxes$3,415
Income Taxes$4,261
License Taxes$343
Miscellaneous Taxes$120

Source: U.S. Census Bureau

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