Post by Logan on Jun 3, 2016 18:36:31 GMT -6
CONCORD — State revenue did not make the grade for May, coming in $4 million below estimates, mostly due to business tax receipts.
The state took in $93.7 million in revenue for May, $3.9 million less than budget writers anticipated and $2.2 million less than May 2015.
Although not a big month for business taxes, returns were $3.8 million less than estimates at $13.1 million. Some of the shortfall was due to a $19 million amnesty program that included some money companies owed in future months, according to the Department of Revenue Administration.
However, business revenue for the 2016 fiscal year is $57.1 million more than estimates.
Read more: www.unionleader.com/article/20160603/NEWS0621/160609756
The state took in $93.7 million in revenue for May, $3.9 million less than budget writers anticipated and $2.2 million less than May 2015.
Although not a big month for business taxes, returns were $3.8 million less than estimates at $13.1 million. Some of the shortfall was due to a $19 million amnesty program that included some money companies owed in future months, according to the Department of Revenue Administration.
However, business revenue for the 2016 fiscal year is $57.1 million more than estimates.
Read more: www.unionleader.com/article/20160603/NEWS0621/160609756