NH Cigarette Tax Revenue Beats Projections Again

NH Cigarette Tax Revenue Beats Projections Again

Revenue numbers for May 2012 have been calculated in New Hampshire and there is good news for Granite State residents.

Not only did May revenues beat expectations; revenue from the state’s cigarette tax, which was  cut by 10 cents per pack last year, also beat expectations. The Union Leader reports that the tax brought in 2.2% more revenue in May than had been projected, for a total of $18.3 million.

As of the end of February, the Union Leader noted the tax had already brought in about $1 million more than had been projected, and had beat estimates for two months in a row. In April, the Nashua Telegraph indicated that the cigarette tax was continuing to “outperform.”

New Hampshire House Speaker William O’Brien trumpeted the May numbers as a validation of Republican budget efforts. “Even against the headwinds of a slowing national economy, our state’s economy is recovering,” he said in a statement.