State revenues over projections in March
State revenues in March were above estimates by $26.2 million, which brings the year-to-date revenue surplus to $33 million.
Finance Commissioner Ryan Low told lawmakers both individual and corporate income tax revenues were above projections, with corporate revenues $10.9 million above estimates, according to Capitol News Service. Sales tax revenues were $75,000 below projections. Low expressed concern over rising energy prices, which could negatively affect state revenues. Revenues could decrease if taxpayers file for larger-than-projected refunds in April, but the year-to-date surplus should be enough to handle that situation, according to the news service.
March was the first month of figures available since the state recalculated revenue projections.
Go to the article from Capitol News Service >>
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