NJ Tax Collections Continued Hot Streak in March

njspotlightnews.org

The good fiscal news for New Jersey keeps coming, as new revenue figures from the state Department of Treasury show state tax collections continuing to run strong heading into this month’s crucial income-tax filing deadline.

Rising wages and a robust Wall Street bonus season helped grow state income-tax collections by more than 16% year-over-year through the end of March, according to Treasury officials. Two other major sources of state revenue, the sales and corporate-business taxes, were also outpacing year-end growth targets that Treasury just revised last month.