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Vt. general fund revenues lag in November - WCAX.COM Local Vermont News, Weather and Sports-

Vt. general fund revenues lag in November

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MONTPELIER, Vt. (AP) - Vermont's main tax revenue sources lagged behind their targets in November, with higher-than-expected corporate income tax refunds the biggest concern.

Administration Secretary Jeb Spaulding says November general fund revenues totaled about $80 million - some 4 percent below expectations. Year-to-date, they were a bit more than $505 million - just one-fifth of a percentage point shy of their target and nearly 4 percent above last year.

Corporate income taxes were the biggest worry, as refunds resulted in a loss to state revenues of more than $2 million.

Consumption taxes, including the sales and use and rooms and meals levies, also fell short of their targets in November.

Click here for the full revenues report.

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