By GARRY RAYNO, InDepthNH.org
CONCORD — August revenues were strong enough to move the state ahead of schedule after a lackluster first month of Fiscal Year 2027.
In August state revenues totaled $149.5 million, which is $13 million ahead of estimates and $20.7 million more than a year ago. For the year to date, revenues totaled $276 million, which is $5.8 million more than estimates and $25.9 million more than the first two month of the 2026 fiscal year.
Real estate sales and interest payments for the revenue surplus from last fiscal year helped buoy the month’s totals.
Business taxes, the single biggest state levy produced $21 million for August, which was $2.1 million more than estimates, and $7.2 million more than a year ago, For the first two months of the fiscal year, business taxes totaled $48.2 million, which is $6.4 million below estimates, but $3.8 million more than a year ago.
The Department of Revenue Administration said August numbers were “due to an increase in estimate and return payments as well as a decrease in refunds compared to the prior year.”
The state’s second biggest levy, the rooms and meals tax, produced $38.5 million for the month, which is $500,000 more than estimates and $2.2 million more than last year.
For the first two months of the fiscal year, the levy produced $72.5 million, which is $200,000 below estimates, but $3.5 million more than a year ago.
According to the DRA, taxable meals were up 2.8 percent from a year ago but hotel activity was down 8.3 percent.
The real estate transfer tax produced $30.8 million for August, which is $6.9 million more than estimates.
For the year to date, the levy produced $56.6 million, which is $8.1 million more than estimates and $12.2 million more than last year.
The DRA said transactions were down 3.2 percent, but the values were up 12 percent over the same month last fiscal year.
The long slipping tobacco tax had a rebound in August producing $18 million, which is $1.9 million more than estimates, and $800,000 more than a year ago.
For the year to date, the levy produced $35.4 million, which is $3.5 million more than estimates, and $1.6 million more than a year ago.
Transfers from the Lottery Commission to the Education Trust Fund for August, the first month it reports, was $13.7 million, which is $1.4 million more than estimates, but $600,000 less than last year.
The other category produced $9.5 million for August which is $4.4 million more than estimates and $700,000 more than a year ago.
For the year to date, the category produced $16.3 million, which is $100,000 above estimates, but $1.7 million less that a year ago.
The DRA said the category exceeded plan primarily due to earned interest.
The insurance and utility property taxes were slightly above estimates for the year, while the transfers from the Liquor Commission, the communications and beer tax, the proceeds from video lottery terminals and court fines and fees were all below estimates for the month.
The Highway Fund, comprised largely of the gas tax and vehicle registrations, produced $22.4 million for August, which is $400,000 more than estimates and $1.3 million more than a year ago.
For the year to date, the fund has produced $25.8 million, which is $2.9 million more than estimates and $3.5 million more than a year ago.
The Fish and Game Fund, comprising fishing and hunting licenses, collected $2 million during August, which is $200,000 below estimates and the same as a year ago.
For the year to date, the fund has produced $4.6 million, which is right on estimates, and $100,000 more than a year ago.
Garry Rayno may be reached at garry.rayno@yahoo.com