Minnesota government revenue dips in October

St. Paul, Minn. — (AP) - All of Minnesota's big three taxes dipped beneath expectations in October as the nation's economic troubles hit home.

A monthly revenue update from state budget officials shows that individual income taxes, corporate taxes and sales taxes were all lower than projected.

Combined they were $53 million lower than finance officials expected them to be for the month.

The poor numbers were offset a bit by $22 million gains in other, unspecified revenue.

For the year, however, tax receipts are slightly ahead of projections.

The monthly reports don't calculate spending patterns. A full economic picture is due early next month, and that will guide early budget deliberations at the Capitol in 2009.

(Copyright 2008 by The Associated Press. All Rights Reserved.)