February 10, 2010
January revenues $14M over estimates
By The Mainebiz News Staff
State revenues surpassed estimates in January, marking the second month in a row that revenues were higher than expected.
Ryan Low, commissioner of Administrative and Financial Services, said preliminary estimates show January revenues up $13.5 million over projections, according to Capitol News Service. Low attributed the increase to higher-than-expected income tax revenues from individuals and businesses. But legislators again urged caution, saying the rise over projections is in part due to the re-projection of revenue numbers. Legislators also expressed concern that sales tax revenues are not meeting expectations, according to the news service.
State revenues in December came in $30 million over estimates.
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