Vermont tax revenues reach targets, personal income tax struggles

From Vermont Business Magazine – 

Vermont tax revenues reached their targets for the month and the fiscal year, which ended June 30, but just barely, as the vital personal income tax continued to lag. State revenues have been bailed out the last few months mostly by the corporate and estate taxes. General Fund revenues totaled $124.67 million for June 2014, $.31 million or 0.25 percent ahead of the monthly target. For the fiscal year, General Fund receipts were $1,327.53 million, $2.43 million or 0.18 percent ahead of the cumulative target for the fiscal year. GF revenues were $38.92 million or 3.02 percent ahead of the prior fiscal year (FY 2013). Secretary of Administration Jeb Spaulding released the preliminary June and fiscal year (FY) 2014 revenue results today for the General, Transportation, and Education Funds.

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