U.S. Markets closed

Panel updates Del. revenue forecast

Randall Chase, Associated Press

DOVER, Del. (AP) -- The panel that sets Delaware's official revenue projections has approved an upward revision of its financial forecast.

The Delaware Economic and Financial Advisory Council on Monday increased it revenue estimate for the current year by $37.7 million compared to its September forecast.

The revenue forecast for the fiscal year starting July 1 was boosted by $19.9 million compared to September.

Officials attributed the changes primarily to increases in estimated corporate income and personal income taxes and realty transfer taxes.

Those increases more than offset downward revisions in revenue from the gross receipts tax on businesses and state lottery.