- Associated Press - Friday, June 3, 2016

BOSTON (AP) - Tax revenues continue to fall below expectations as the state’s fiscal year nears an end.

Revenue Commissioner Michael Heffernan said Friday that preliminary figures show state tax collections in May running $34 million or 1.8 percent higher than the same month a year ago. He said most of the increase was attributable to a tax amnesty program that ended May 31.

But revenues once again missed their benchmark for the month and are now running $311 million behind projections for the fiscal year, which closes on June 30.

The news comes as lawmakers prepare to begin final talks on a proposed budget for the new fiscal year starting July 1.

Heffernan says he remains confident about the state’s economy, noting that overall sales tax revenue and income withholding remain strong.


Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide