Income tax lags,

but revenues up

MONTPELIER — Vermont’s largest source of tax revenue — the personal income tax — is coming into state coffers at slightly less than the expected pace.

But Administration Secretary Jeb Spaulding said he’s not worried, because it appears to be less a function of the underlying economy than the timing of collections.

He said he’s encouraged that sales-and-use and rooms-and-meals tax receipts ran 5 percent to 6 percent ahead of expectations for September.

Overall tax collections for September were about $121 million — just a hair ahead of what was expected for the month.