State revenues down $13m in first half
Several hospitals delayed paying their Medicaid Enhancement Tax due in November until December, boosting last month's revenue by $14 million. Securities tax receipts of $10.4 million expected this month were paid in December, also boosting the monthly total.
The state took in $202.5 million in December instead of budget writers' estimate of $172.8 million. This December's total was $23.6 million more than collected last December.
Total revenues for this fiscal year are $893.5 million, which is $13 million below estimates, but $53.3 million more than collected a year ago.
Business taxes continue to hit their target, producing $86.8 million for the month, $5.4 million more than estimates.
For the year, business taxes have produced $240.3 million, $6.2 million more than budget writers' estimates.
The rooms and meals, interest and dividends and real estate transfer taxes, as well as revenues from liquor and the lottery commission were all above estimates.
However, the tobacco, communications and utility property taxes were all below estimates for the month.
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Garry Rayno may be reached at firstname.lastname@example.org.