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April tax revenues fall back, still ahead YTD | Vermont Business Magazine


Wed, 05/19/2021 - 1:25pm tim
by Timothy McQuiston, Vermont Business Magazine The State’s General Fund, Transportation Fund, and Education Fund tax receipts in April were a combined $24.7 million, or 7.9 percent below monthly consensus expectations. While there was an explainable dip in actual April revenues compared to the January forecast, cumulative targets, or year to date, were surpassed by a combined $80.5 million, across the three major funds. The GF itself is up 3.8 percent, or $58.2 million, YTD.
For the month of April, General Fund revenues totaled $201.5 million, or $40.1 million below the monthly consensus revenue target.
The personal income tax (the most important GF revenue source), was -36.7 percent, or -$68.4 million, below expectations. The corporate tax (139.3 percent or $23.3 million above) and the meals and rooms tax, 35.5 percent above ($2.4 million), made up some of the ground. ....

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