State revenue up 7.3 percent for February
CONCORD – Although state levies produce the least amount of money in February, the state’s coffers ended the month $5.7 million over estimates, or 7.3 percent to the good.
State taxes and fees produced $84 million, while budget writers predicted they would return $78.3 million.
The revenue picture remains bright for the fiscal year to date, with the state taking in $1.06 billion, which is $18.8 million more than the budget plan and $13.5 million more than a year ago.
“Overall it’s a pretty good month,” said Department of Administration Commissioner Linda Hodgdon.
While business tax returns are the smallest for the year in February, they were ahead of schedule by 43 percent, returning $8.2 million. For the year to date, business taxes are $7.1 million ahead of schedule, returning $265 million, which is the same amount raised last fiscal year.
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