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Delaware panel bumps up official revenue estimates

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DOVER, Del. (AP) — Delaware’s revenue forecast continues to brighten but officials warn that the state’s economy remains clouded in uncertainty.

The panel that sets the official government revenue forecast increased its estimate for the current year on Monday by more than $160 million compared to its December estimate. The general fund revenue estimate for the fiscal year starting July 1 increased by $148 million.

The increases are due largely to higher estimates for personal income taxes, corporate income taxes and corporate franchise taxes, which are paid by companies incorporated in Delaware even if they don’t do business in the state.

 

 

Source: AP – All contents copyright 2021 Associated Press. All rights reserved.

 

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