July revenues beat expectations
Print This Post
Garry Rayno reports in the Union Leader that July revenues came in $7.9 million over their targets set in the last year’s budget.
The state took in $99.7 million for July, which is $13.4 million more than the state took in a year ago.
While good results from the business, rooms and meals, and real estate transfer taxes are encouraging, said Department of Administrative Commissioner Linda Hodgdon, she would be reluctant to base a forecast on the results. “Let’s hope,” she said.
Business taxes returned $17.9 million, $2.7 million than budget writers anticipated and $2.8 million more than a year ago.
The rooms and meals tax produced $23.3 million in July, $2.4 million ahead of plan and $2.2 million more than a year ago. The Department of Revenue Administration attributed the good results to an improved economy and good weather in June.
The tobacco tax was slightly ahead of target producing $19.2 million in July, while liquor revenues were also about what was anticipated, returning $12.1 million. Also the communications tax was also on target returning $7.2 million for the month.
Comments are closed.