N.H. state government revenues strong in first 2 months of fiscal 2014
New Hampshire’s state government got off on the right foot this summer, collecting $11.2 million more than expected in revenue for the first two months of the 2014 fiscal year.
The state’s general and education funds collected $238.4 million in July and August, 4.9 percent more than had been estimated, the Department of Administrative Services said yesterday.
Business taxes came in exactly as planned for the two months, while the communications services tax came in $1.4 million below projections. But the meals and rooms tax brought in $1.9 million more than expected, the tobacco tax brought in $3.7 million more than expected and the real estate transfer tax brought in $2.4 million more than expected.
Under the new budget that took effect July 1, the state expects to collect about $2.24 billion in tax and fee revenue for the general and education funds in fiscal 2014.