(The Center Square) – New Hampshire saw nearly $3 billion in unrestricted preliminary accrual-based revenue for the state’s general and education funds for fiscal 2021.
According to a revenue analysis from the state Department of Administrative Services, collections were $307.9 million, or 11.6%, above projections, and $481.6 million, or 19.4%, over a year earlier.
The $3 billion does not include $30.8 million in “anomalous” accrued fiscal 2020 revenue. The numbers are unaudited and could change, officials said.
For fiscal 2021, business taxes were 26.1% above the plan and 45.5% above the previous year. Additionally, the Lottery Commission kicked in 29% more than expected and 38.3% above a year earlier.
According to the report, tobacco taxes were 25.4% above plan and 18.7% above the prior year. Separately, meal & rental tax collections were 13.4% below projections and 6.8% above the prior year.
Transfers from the liquor commission were 7.9% above projections and 9.9% above the prior year. “This is net of annual transfers … of $18.5 million in FY21 and $10.0 million in FY20,” according to an analysis in the report.
Additionally, taxes on interest and dividends were 2.7% above projections and 3% above the prior year.
Insurance tax collections were 6.1% above plan and 3.7% above the prior year, while the communications tax exceeded expectations by 1.5% and above prior year by 2%, and real estate transfer taxes were 32.4% above expectations and 32.5% above the prior year.
Securities revenue was 6.1% below plan and equal to the prior year. Utility property taxes were 13.6% below projections and 11.8% below the prior year.