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Common Cents Blog

Unplanned Business Tax Revenues Bolster Surplus, Prompt Questions

7 Mar 2018

tree with coins

The size of the State’s surplus continues to climb as a result of February’s revenues, with receipts from the two primary business taxes providing almost all of the boost while most other sources underperformed. The State collected $105.9 million in February, $15.5 million (17.1 percent) more than the $90.4 million projected by the State revenue plan. Business tax receipts were $19.9 million (189.5 percent) higher than plan, which anticipated only $10.5 million for the month.