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Strong Showing for State Revenues, $58 Million Above Projections

March 4, 2016 Data Viz

Thanks to a steadily growing economy, the state’s FY 2016 revenue situation remains strong. According to the Department of Administrative Services, total General and Education Fund revenue, through the end of February, is $58 million higher than what was expected at this point in time. Furthermore, this does not take into account the $19 million attributed to the tax amnesty program that ran from December 1, 2015 through February 15, 2016.

While over a dozen revenue streams flow into the General and Education Funds, three – business taxes, the meals and rooms tax, and the real estate transfer tax – have been responsible for the vast majority of the positive news. The strength of these particular taxes suggests that the New Hampshire economy is performing well overall, since these revenue streams tend to reflect trends in corporate profits, discretionary consumer spending, and household finances.

The following data visualization is designed to help you understand the data. Within each tab, you can hover over each data point to view additional context. On the right side are seven radio buttons, which allow you to further investigate revenue trends by specific tax type or by total collections.

Below the visualization are some of the numerical highlights from the latest report.

(To view data in full screen mode or on a mobile device, click here.)

 

 

Business profits tax and business enterprise tax

FY 2016 collections (through 2/29/16): $310.7 million

FY 2016 YTD vs FY 2015 YTD Actual: Up $40.7 million (15.1 percent)

FY 2016 YTD vs FY 2016 YTD Plan: Up $35.4 million (12.9 percent)

 

Meals and rooms tax

FY 2016 collections (through 2/29/16): $208.4 million

FY 2016 YTD vs FY 2015 YTD Actual: Up $13.4 million (6.9 percent)

FY 2016 YTD vs FY 2016 YTD Plan: Up $5.9 million (2.9 percent)

 

Real estate transfer tax

FY 2016 collections (through 2/29/16): $97.1 million

FY 2016 YTD vs FY 2015 YTD Actual: Up $14 million (16.8 percent)

FY 2016 YTD vs FY 2016 YTD Plan: Up $12 million (14.1 percent)

 

 

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Committee of Conference Keeps Medicaid Reimbursement Rate Increases, Boosts Fiscal Disparity Aid in Final Budget Agreement

24 Jun 2019

tree with coins

Negotiators from the House and Senate agreed to a final budget proposal in the Committee of Conference for House Bill 1 and House Bill 2 last week, preserving many Senate proposals while incorporating additional education aid and removing the paid family and medical leave proposal supported by both the House and the Senate in their respective versions of the State Budget. The Committee of Conference budget proposal does not include the expansion of the Interest and Dividends Tax to include capital gains as proposed by the House, but freezes business tax rates at 2018 levels. The proposal retains the Senate’s $17.5 million appropriation for a new secure psychiatric facility and $40 million in revenue sharing to municipal governments during the biennium.