NEW CASTLE, Del. (AP) - Delaware's official government revenue estimates continue to climb as the time nears for lawmakers to begin marking up a proposed $4.4 billion operating budget for next year.
The Delaware Economic and Financial Advisory Council on Monday increased its revenue estimate for the current fiscal year by $37.9 million compared to its March estimate.
The panel also increased its forecast for the fiscal year starting July 1 by $12.9 million, to $4.58 billion. A major factor in the upward revision for each year was corporate income tax estimates, which increased by $35.3 million for this year since last month.
Officials said that amount included an unexpected $10 million in estimated payments for this year from a handful of companies that have had no reported tax liability in recent years.