State of Vermont Agency of Administration Monthly Revenue Release (July 2020)

On July 24 2020 Secretary of Administration Susanne Young released Vermont state revenue results for June 2020 and for the fiscal year 2020 overall.  The Secretary noted that a more complete accounting of state revenue receipts would be forthcoming following the July 15^th extended filing and payment deadlines for Personal Income Tax and Corporate Income Tax revenues.  Even so the Secretary noted that …”Thanks to a combination of strong public health actions to moderate the impact of COVID-19 in Vermont – and strong fiscal discipline from the Administration and the Legislature – the General Fund will likely end fiscal 2020 in solid financial shape after deferred fiscal 2020 tax receipts are recognized on a modified accrual basis. Vermont is also benefiting from the relative strength of our economy reflected in 2019 personal and corporate tax earnings…”. 

Click on the .pdf below to download the Secretary’s comments concerning Vermont revenues.