TRENTON – The Department of the Treasury reported that cash collections for December totaled over $2.69 billion, bringing year-to-date revenues to $11.36 billion halfway through Fiscal Year 2015. December’s results show yearly revenues up 7.2 percent, ahead of the Fiscal Year 2015 Projected Growth Rate against Fiscal Year 2014 certified revenues of 5.2 percent.
Collections from Gross Income Tax, Sales Tax and Corporation Business Tax, New Jersey’s three largest revenue sources, totaled approximately $2.36 billion in December. Compared to Fiscal Year 2014, year-to-date revenues through December are now up 26.7 percent for Corporation Business Tax and 9.7 percent for Gross Income Tax, outpacing their projected growth rates of 6.5 percent and 4.8 percent for each source, respectively.
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