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May New Jersey Tax Revenues Fall 13.5 Percent as Businesses Remain Closed

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the staff of the Ridgewood blog

Trenton NJ,  The Department of the Treasury reported today that May revenue collections for the major taxes totaled $2.120 billion, down $331.2 million, or 13.5 percent, below last May as the economic impact of the global pandemic continues to take its toll on the State’s finances. Fiscal year-to-date, total collections of $26.864 billion are now down $2.498 billion, or 8.5 percent below the same period last year.

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