• Income tax lags, but revenues up
    October 14,2012

    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.

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