AUGUSTA, Maine - State revenues are above projections by nearly $16 million after the first two months of the budget year. State tax receipts reflect the summer tourist season.
State Finance Commissioner Richard Rosen says Maine’s economy continues slow but steady growth, with income tax revenues reflecting lower unemployment rates.
“We can all feel it," he says. "You see the 'Help Wanted' signs nearly everywhere you go, and there is upward pressure on wages.”
All of the big sources of state tax revenue - income taxes and sales taxes were above estimates, with some sectors doing especially well. Lodging taxes, for example, were 10 percent above estimates, while restaurant sales exceeded projections by 7 percent.
