Significant Revenue Surplus Largely Generated by Business Taxes in Federally-Boosted Economy
State revenues have grown substantially since the sharp decline associated with the early days of the pandemic. As of the end of April 2022, the unrestricted revenue surplus over the State Budget’s revenue plan was $382.2 million, 16.0 percent higher than planned. Revenue surpluses have been generated by higher-than-anticipated revenues from the State’s two primary ...