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.
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