The state of Vermont’s general fund revenues came in more than 9 percent short of their target for December, a setback after four consecutive months of exceeding their targets.
Administration Secretary Jeb Spaulding says corporate income tax receipts had been running above expectations and fell below them in December, which he says was not unexpected.
For the first six months of the fiscal year, revenues are slightly above target, with a bit more than $569 million taken in by the general fund so far.
Consumption taxes – on sales and use and rooms and meals – both came in just about on target for December, and the same was true of the state revenues that support the transportation fund.