According to new State data, the General Fund and the Education Trust Fund brought in a combined $164.1 million in revenue for October, the fourth month of State Fiscal Year (SFY) 2025, which began in July. This amount was $19.0 million (13.1 percent) above the monthly target given in the State Revenue Plan, which is generated from projections incorporated into the State Budget. Following trends from prior months, revenue during October benefited from interest generated from State cash holdings, which was a key driver of the month’s surplus. Combined business tax revenue continued to fall just under target amounts in October, with underperformance in September generating most of the shortfall relative to the State Revenue Plan.

Learn more in NHFPI’s November 2024 blog: October Revenue Collections Generate Surplus, Partially Offset Revenue Deficit for Year Thus Far