CONCORD, N.H. (AP) - A state official says strong tax receipts by New Hampshire businesses in March may bode well for the state's economic future.
Administrative Services Commissioner Linda Hodgdon said Tuesday that receipts from business taxes were $17 million more than estimated in a month when many businesses pay their taxes. She said many businesses also pay their taxes in April. She said receipts in the two months are strong indicators for what lies ahead for the state.
Overall, the state received $27 million more than estimated, which cut the year-to-date shortfall to $15 million. The shortfall is due to an estimated $34 million in unpaid hospital taxes. Hodgdon said strong business tax receipts in April could eliminate the shortfall heading into the final quarter of the fiscal year.
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