May revenues off target slightly for New Hampshire
CONCORD, N.H. (AP) - New Hampshire's revenues are continuing to come in below estimates.
Administrative Services Commissioner Linda Hodgdon said Tuesday that May's revenues were about $3 million below estimates, mostly because $2.6 million the state thought it would get during the month came in April instead.
Hodgdon said May is a small tax collection month and can't be used to pinpoint trends. She said officials will be better able to tell if a trend is developing once tax receipts are in for June, a significant tax collection month.
The state collected $86 million in May. So far this fiscal year, the state has collected $2 billion in general state taxes and is about $800,000 ahead of projections.
Gov. Maggie Hassan issued an executive order freezing some spending due to poor April tax receipts.
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