N.H. revenues $11 million behind estimates in February
For the second consecutive month, New Hampshire’s tax receipts are lagging behind projections.
Administrative Services Commissioner Linda Hodgdon said Friday that revenue collections in February were $11 million less than expected. January tax receipts were $17 million less than projected.
Business and communications taxes accounted for $8 million of the $11 million.
Business tax receipts were more than $4 million below estimates largely due to tax refunds.
The communications tax also was $4 million below estimates. Hodgdon attributed it to a new law barring taxes on internet access. She said communications tax receipts are $13 million less than expected so far this year.
Total revenues for the year lag $41 million behind estimates largely due to unpaid hospital taxes.
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