By GARRY RAYNO, InDepthNH.org
CONCORD — In January, state revenues continue to produce more than budget writers anticipated led by business, hospitality and sweepstakes levies.
In data released Friday by the Department of Administrative Services, the state garnered $202.7 million for January, $42.4 million more than estimates and $9.3 million more than a year ago.
For the first seven months of the 2023 fiscal year, the state has collected $1.43 billion, a revenue surplus of $249.5 million, and $49 million more than a year ago.
Business taxes again were well ahead of estimates for the business profits tax, but a little below estimates for the business enterprise tax.
Together business taxes produced $71.4 million for the month, $31.6 million more than estimates, and $12.8 million more than a year ago.
According to the Department of Revenue Administration, the month’s figures reflect “an increase in estimate, extension and tax notice payments compared to the same month last year.”
The rooms and meals tax produced $25.8 million in January, $9.6 million more than estimates and $5.6 million more than a year ago.
According to the DRA the activity for meals was up 11.8 percent and hotels up 15.6 percent over a year ago.
For the year to date, the levy has produced $201.6 million, which is $50.6 million more than estimates and $6.4 million more than a year ago.
Transfers from the Lottery Commission were $16.6 million for the month, driven by more large national lottery jackpots, which is $2.7 million more than estimates, and the same amount as a year ago.
For the year to date, transfers total $93.8 million, which is $24.1 million more than estimates and $20.9 million more than a year ago.
The interest and dividends tax produced $16.9 million, which is $900,000 below estimates, and $2.2 million less than a year ago.
For the year to date, the levy has produced $50.4 million, which is $300,000 below estimates, and $8.8 million less than a year ago.
The tobacco tax continued to produce less than anticipated in January with receipts of $13.8 million, which is $3.9 million less than estimates and $2.6 million less than a year ago.
For the year to date, the levy produced $131.7 million, which is $12.8 million less than estimates and $8.9 million less than a year ago.
The communications, beer and utility property taxes and court fines and fees were below estimates for the month, while the insurance, real estate transfer and securities taxes, and liquor commission transfers were ahead of estimates for the month.
Both the highway and fish and game funds were ahead of estimates for the month.
The Highway Fund, which is largely revenues from the gas tax and auto registrations, produced $21 million for the month, $300,000 ahead of estimates, while the Fish and Game Fund collected $1.1 million, a surplus of $100,000.
For the year to date, the Highway Fund has produced $147.5 million, which is $400,000 more than anticipated, but $2.6 million less than a year ago.
The Fish and Game Fund has produced $8.1 million for the year, a surplus of $400,000 and $100,000 more than a year ago.
Garry Rayno may be reached at garry.rayno@yahoo.com.