October 21, 2013
State is in the black for its first quarter
The state is $13.3 million ahead of budget for the first quarter of fiscal 2014, despite lower-than-expected revenues from corporate taxes.
The Maine Public Broadcasting Network reported that state revenues were up in July, down in August and ahead of expectations in September, driven by revenue from individual income and sales taxes.
With the economic report last week, a variety of industry representatives also told the state’s Consensus Economic Forecasting Commission that the economy has continued to grow slowly, but is not fully recovered from the recession that began in 2008.
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