Corporate income tax saves Vt. revenues - WCAX.COM Local Vermont News, Weather and Sports-

Corporate income tax saves Vt. revenues

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MONTPELIER, Vt. (AP) - Corporate income tax receipts kept Vermont revenues on track in December, while other taxes ranging from those on personal income to motor fuels performed short of their targets.

That's the word from Administration Secretary Jeb Spaulding, who says overall general fund revenues are running nearly 2% short of their target for the first six months of the current fiscal year.

The personal income tax continued to lag in December, coming in at about $57 million, or nearly 4% less than what had been expected when state revenue targets were set in July.

But corporate income taxes came in at $22.5 million, about 73% ahead of what had been expected for the month.

Both the sales and use and rooms and meals taxes lagged their targets in December.

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