Revenue collections were lower than forecasted for the last month, according to the latest revenue update report published by the state’s Economic and Revenue Forecast Council on Thursday afternoon. Between February 11th and March 10th, the state collected $29.5 million, 1.5 percent lower than forecasted in February.
The forecast last month projected slow growth in the state budget outlook, adding just $337 million or 0.2 percent to the prior forecast in November.
The decrease in the revenue update was due in part to decreased total tax payments across several sectors including several retail trades, motor vehicles, food services, manufacturing, and construction.