TRENTON, N.J. (AP) — New Jersey collected $93 million more in taxes and fees in May than officials had projected.
The Treasury Department released the details on Monday, saying it was the sixth consecutive month of better-than-expected revenue collections. Top revenue gains came in income and sales tax collections, both of which topped revised targets.
The fiscal year began with several sluggish months, leading a legislative analyst to project a potential revenue gap of more than $900 million through June 2014. That number has since been lowered by $200 million.
The budget is based on anticipated revenues in a state where spending cannot exceed collections.
Music NewsSTEVIE NICKS SAYS CHRISTINE McVIE WILL PERFORM WITH FLEETWOOD MAC
LOST “TOMMY” LIVE RECORDINGS WILL BE PART OF REISSUE
JAMES BROWN MOVIE IS IN THE WORKS