Total Tax Revenue Trails for First Half of Fiscal Year. Are Budget Corrections in the Offing?

njspotlightnews.org

When the first half of the state’s fiscal year ended last month, New Jersey’s total tax collections were off nearly $530 million from the same point in the previous fiscal year.

In all, the state’s revenue haul from the beginning of July through the end of December declined by nearly 3% compared with the same six months in the fiscal year that ended June 30, 2023, the Department of the Treasury reported Wednesday.