Delaware Panel Updates Revenue Forecast - 47 ABC - Delmarva's Choice

Delaware Panel Updates Revenue Forecast

Posted: Updated:

NEW CASTLE, Del. (AP) - The panel that sets Delaware's official financial projections made only minor tweaks in submitting its final revenue forecast for the year.
    
The Delaware Economic and Financial Advisory Council on Monday lowered its revenue estimate for the current fiscal year by $2.6 million compared to September's estimate.
    
Officials say higher projections for corporate franchise and related taxes were offset by lower expectations for corporate income taxes. A $6 million refund of abandoned property taxes and lower estimates for gambling revenue also led to the downward revision.
    
For fiscal 2015, which starts July 1, the panel increased its revenue estimate by $5.7 million, based largely on higher projects for real estate transfer taxes.
    
Gov. Jack Markell's budget officials will use the revised numbers in finalizing the budget he will propose in January.

 

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

  • ContestsMore>>

  • Spring Gas Giveaway

    Spring Gas Giveaway

    Let WMDT fill up your tank! It's time for our Spring Gas Giveaway! More >>
    Enter for your chance to win a $100 Exxon/Mobil Gas Card!More >>
  • Teacher Who Makes A Difference

    Teacher Who Makes A Difference

    The WMDT 47 Teachers Who Make a Difference Contest is Sponsored by Accurate Optical: "Encouraging children of all ages to come in for an annual eye exam to help them see better in school." Each month weMore >>
    The WMDT 47 "Teachers Who Make a Difference" Sponsored by Accurate Optical Encouraging children of all ages to come in for an annual eye exam to help them see better in school.More >>
Powered by WorldNow
Powered by WorldNow All content © Copyright 2000 - 2014 WorldNow and WMDT. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.