Nov. revenues exceed budgeted projections, state says

TRENTON – The state reported Tuesday that November revenues were 14.2 percent ahead of November 2012 revenues, $1.73 billion compared to $1.51 billion.

The state also reported that its November collections exceeded the budgeted figure of $1.71 billion, an increase of actual over budget of 1 percent.

In regards to actual vs. budgeted revenues, corporation business taxes for November were $88.4 million compared to $55 million.

Gross income and sales taxes – actual vs. budgeted – for November were below expectations.

Income taxes were $681 million actual vs. $690 million budgeted; sales taxes were $654 million actual vs. $655 million budgeted, the state reported.

For the fiscal year-to-date, overall tax revenues grew 7.9 percent through November compared with the prior year and are running ahead of their projected growth rate of 6.3 percent, the state reported.

November Revenue Charts:

http://observer-media.go-vip.net/wp-content/uploads/sites/2/2013/12/november2013revenuecharts1.pdf

Nov. revenues exceed budgeted projections, state says