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Tuesday, June 3, 2014

New Hampshire’s May revenues slightly off target

CONCORD (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. ...

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CONCORD (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.