Quantcast

NH budget sees $5.8M surplus, missing estimate - WCAX.COM Local Vermont News, Weather and Sports-

NH budget sees $5.8M surplus, missing estimate

Posted: Updated:

CONCORD, N.H. (AP) - Preliminary figures show the state ended its two-year budget cycle with a $5.8 million dollar surplus on the revenue side, lower than the $26 million that budget writers projected.

The Nashua Telegraph reports that figures released Wednesday show a boost in business taxes, tourism and tobacco taxes helped produce the surplus. The state has a $10.7 billion two-year budget.

State officials were still cautious. Last month, Gov. Maggie Hassan got legislative approval to freeze non-essential hiring, travel and equipment purchases. Two other reasons for concern: Taxes on interest and dividends are down $16 million for the year and taxes on telecommunications sales fell $4 million.

Final numbers will come out in three weeks and the surplus could shrink if spending controls are not met.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WCAX. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.