May 21, 2018
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Maine tax revenues running ahead of budget by $22.5 million

The Associated Press

AUGUSTA, Maine — Maine tax officials say revenues came in stronger than expected in August, leaving the state’s general fund collections over budget by $22.5 million, or 8.2 percent, two months into the fiscal year.

Revenue officials told the Appropriations Committee on Thursday that this compares favorably to the same period last year, when Maine ended the 2010 fiscal year below forecasts.

In August, the second month of fiscal 2011, sales and use tax receipts were over budget by $4 million, reflecting strong sales during the height of the tourism season in July.

Another important sector, auto sales, was flat compared to a year earlier.

The state highway fund also showed strength in August, when motor fuel tax receipts came in over budget by $4.4 million.

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