State Revenue Collections Down

The Department of Revenue announced today that General Purpose Revenue (GPR) collections for fiscal year 2014 are $281 million less than projected. All tax categories were lower than projected except for public utility; liquor and wine; and insurance.

The shortfall means the state faces a $115 million deficit at the start of fiscal year 2015-16, and all but guarantees that the state budget process will be more difficult than expected.