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Vermont tax revenues exceed targets for GF, Transpo and Education

first_imgVermont tax revenues exceeded their adjusted targets in September in the three major categories and in nearly all sub-categories. The most promising of which was the personal income tax, which was down in August. The fiscal year-to-date numbers also exceeded targets, but more modestly. The General Fund was up 5.09 percent in September and 2.37 percent YTD ($263 million). Of this, personal income, by far the single largest component, was up .57 percent YTD ($129.85 million total). The Transportation Fund was up 3.87 percent YTD ($55.05 million total), with all components exceeding targets. And the Education Fund was ahead .52 percent YTD ($36.09 total). The most notable component that failed to exceed its YTD target was the sales and use tax, which came in below target by .18 percent YTD ($51.32 million total). However, its September number did exceed its target by .14 percent.The September General Fund Revenues were released by Secretary of Administration Neale F Lunderville on Friday. September marks the end of the first quarter of FY 2010. General Fund revenues totaled $105.64 million for September 2009, +$5.09 million or +5.06% above the $100.55 million consensus revenue forecast for the month. Year to date, General Fund revenues of $263.00 million were +$6.09 million and +2.37% above the year to date FY 2010 target.The monthly targets reflect the recently revised Fiscal Year 2010 Consensus Revenue Forecast that was adjusted downward by the Emergency Board on July 16, 2009. The State s Consensus Revenue Forecast is normally updated two times per year in January and July. However, with the continuation of this recession, the Emergency Board has been scheduling interim quarterly revenue reviews. The next consensus forecast is scheduled to be reviewed by the Emergency Board on November 12, 2009.Personal Income Tax receipts are the largest single state revenue source, and are reported Net-of-Personal Income Tax refunds. Personal Income Tax receipts for September were $52.65 million, +$0.32 million or +0.61% ahead of the monthly target. Sales & Use Tax, at $16.69 million was +$0.02 million or +0.14% above target. Rooms & Meals Tax was $12.64 million, +$1.06 million or +9.13% above target for September. The largest favorable result was in Corporate Income Tax receipts, which are also reported net-of refunds. Corporate Tax receipts for September were $12.43 million or +$2.90 million (+30.36%) above the target for the month. However, as the September Corporate increase is based on estimated taxes, we will not know if the above target results are subject to refund until the actual tax returns are filed. The year to date results for the four major General Fund categories are as follows: Personal Income Tax, $129.85 million (+0.57%); Sales & Use Tax, $51.32 million (-0.18%); Corporate, $14.64 million (+21.87%); and Meals & Rooms, $33.05 million (+4.34%).The remaining tax components include Insurance, Inheritance & Estate Tax, Real Property Transfer Tax, and Other (which includes: Bank Franchise Tax, Telephone Tax, Liquor Tax, Beverage Tax, Fees, and Other Taxes). Results for the month of September were as follows: Insurance Tax, $0.71 million (-39.51%); Estate Tax, $2.51 million (+96.43%); Property Transfer Tax, $0.81 million (+21.44%); and other, $7.21 million (-1.66%). Year to date results for these categories were: Insurance Tax, $8.41 million (+7.87%); Estate Tax, $4.94 million (+43.32%); Property Transfer Tax, $2.16 million (+12.74%); and Other, $18.63 million (-4.61%).Transportation FundSecretary Lunderville also reported on the results for the non-dedicated Transportation Fund Revenue, revenue of $20.16 million for the month or +$1.67 million (+9.05%), above the monthly target for September. The year to date non-dedicated Transportation revenue was $55.05 million versus the target of $53.00 million (+$2.05 million, +3.87%).Revenue from the Gasoline Tax, Diesel Tax, Motor Vehicle Purchase & Use Tax, Motor Vehicle Fees, and Other were all above the September monthly target. The Transportation Fund revenue results for September were: Gasoline, $5.75 million or +0.36% above target; Diesel Tax, $2.01 million or +68.81% above target; Motor Vehicle Purchase & Use Tax, $4.64 million or +9.09% above target; Motor Vehicle Fees, $5.94 million or +0.87% above target; and Other Fees, $1.83 million or +27.62% above the monthly target. Looking at the national vehicle sales for September, we see that the number of units sold has fallen back to the rate of sales that existed before the Cash for Clunkers program . We are not yet certain that the increased number of vehicles sold in July and August were in fact additional sales or merely a compression of sales that would have occurred over the next several months anyway, said Secretary Lunderville.The September year to date Transportation Fund revenue results were: Gasoline, $16.57 million or +3.11% above target; Diesel Tax, $3.95 million or +31.07% above target; Motor Vehicle Purchase & Use Tax, $12.07 million or +4.52% above target; Motor Vehicle Fees, $17.70 million or +0.01% above target; and Other Fees, $4.75 million or +1.88% above target.Secretary Lunderville also reported on the results for the Transportation Infrastructure Bond Fund ( TIB ) (see Act 50 of the 2009 session). Receipts in the TIB Fund are generated by a motor fuel (gas and diesel) assessment on distributors. The TIB Fund receipts are dedicated first to pay principal, interest and related costs on any Transportation Infrastructure Bonds. After payment of the related bond costs, any remaining TIB monies may be used to fund qualifying Transportation capital projects. These potential remaining monies could be used to offset any unforeseen non-dedicated Transportation Fund Revenue shortfalls. TIB Fund receipts for September were $1.06 million or -15.23%; year to date, TIB Fund receipts were $3.12 million or -12.17%. The TIB Fund receipts are noted at the bottom of the following table:Education FundSecretary Lunderville released revenue results for the the non-Property Tax Education Fund revenues (which constitute approximately 11% of the total Education Fund sources). Education Fund receipts for September totaled $12.59 million, or +$0.33 million (+2.66%) above the $18.49 million consensus revenue target for the month.The individual Education Fund revenue component results for September were: Sales & Use Tax, $8.34 or +0.14%; Motor Vehicle Purchase & Use Tax, $2.32 million or +9.09%; Lottery Transfer, $1.90 million or +4.61%; and Education Fund Interest, $0.02 million or -279.57%. Year-to-date results were: Sales & Use Tax, $25.66 or -0.18%; Motor Vehicle Purchase & Use Tax, $6.04 million or +4.52%; Lottery Transfer, $4.37 million or -1.43%; and Education Fund Interest, $0.02 million or -305.37%. We are hopeful that our current consensus revenue forecast appears to be holding up, commented Secretary Lunderville. Although September s numbers were better than expected, it is important to remember these revenues are compared against significantly downgraded expectations. The economists continue to remind us that even when the recession is over it will take many years to regain the jobs and revenue lost during this downturn.Lunderville concluded: As I ve noted before, with a projected budget shortfall of over $200 million over the next two fiscal years, our budget situation remains very difficult. For FY 2010, the general fund receipts are $31.0 million or 10.6% below the same period for FY 2009, and 3.4% below the same period for FY 2006.Source: Administration office. 10.16.2009last_img read more

He Loves Me…He Loves Me Not! A Guide to His Body Language.

first_img 41 Views   no discussions LifestyleRelationships He Loves Me…He Loves Me Not! A Guide to His Body Language. by: – June 1, 2011 He will try to attract your attention. He will use a gesture or movement and  unconsciously detach from his friends by standing slightly apart, hoping to be seen as an individual.He will sit on the edge of his seat to get physically closer to you.He isn’t interested:If he is not making a lot of eye contact and looking around while you are talking, then this is not a good sign.He makes no effort to touch you and sits as far away from you as possible. If you’re at the movies and he makes no effort to touch your arm to guide you through the darkened theater, then he is probably not interested.If his shoulder is pointing in the direction of your face during a conversation, then he is not interested. When a man is romantically interested, he will stand face-to-face with a woman.He just wants to be friends:He will not respond to your flirting even if it is obvious or overly sexual. He will just ignore it and move on – he really does not feel the same way. Tweet He will keep his body posture “squared off” and strong, not “rounded” and soft. When a guy likes you romantically, he will stand closer to you and round his shoulders to have a softer stance with you. He will take on the physical role of the knight in shining armor ready to help you whenever you have a problem, without any romantic gestures tied to it. He is only acting as a big brother and friend and nothing more.Bree Maresca-Kramer, M.A., is the author of  “It’s That Simple! A Woman’s Book On Relationships, Life, Ourselves And The Healing Of It All” and “It’s That Simple! A Man’s Book On Relationships, Life, Ourselves And The Healing Of It All,” and has successfully mentored hundreds of clients nationwide helping to significantly improve and empower their relationships. Through hands-on education, guidance, mentorship, and motivation Bree’s innovative and signature approach enables each client to awaken and transform their lives. Share by StyleCasterIt’s amazing how much you can relay with a simple crossing of the arms or eyebrow raise. As a teenager, I had a serious problem with rolling my eyes when I was annoyed, causing my parents to tell me I had an “attitude problem” on a daily basis. While I’ve managed to keep the eye rolling under control, I still have a major problem with wearing all my emotions on my face and in my body language, especially when it comes to interacting with the opposite sex.But what does all this non-verbal communication really mean? To find out the answer, I enlisted the help of relationship expert Bree Maresca-Kramer for a two-part story on interpreting body language between the sexes. So let’s start with the fellas – Read on to find out what HIS body language is really saying. He likes you:He will give you an eyebrow flash when you first meet and then while you are talking to show you he is interested in what you are saying and interested in you.  His eyes will also dilate when he is looking at you. Share Sharing is caring! Sharelast_img read more

Maria Sharapova could have won 10 majors without shoulder injury – Joyce

first_imgMaria Sharapova could have won at least 10 grand slam titles if she had not suffered a shoulder injury that took away “one of her biggest weapons”, Michael Joyce believes.Sharapova retired last week aged 32, revealing her body had become a “distraction” after being troubled by injury problems for much of her career. The former world number one was out for nine months following a first operation in 2008 and coach Joyce had to work on remodelling the Russian’s powerful serve in order to prolong her career.Sharapova won the French Open twice following her return to take her major haul to five and complete a career Grand Slam, but could not add to that tally after a 2014 triumph at Roland Garros.Joyce, who coached the global icon from 2004 to 2011, says it was a huge achievement just to come back from the surgery early in her career and is sure there would have been more major glory if she had not been so unfortunate with injuries.The day a star was born…#Wimbledon | @MariaSharapova pic.twitter.com/RT3kqk203g— Wimbledon (@Wimbledon) February 26, 2020He told Stats Perform: “What a lot of people don’t realise is her coming back from that shoulder surgery was a win itself.”We tried to do everything to not have surgery, but it got to a point where nothing we did was helping her.”When the doctors went in I was there with her and the doctor came after about 30 minutes and said, ‘Listen, I couldn’t really do much, she had a tear in her rotator cuff, the way her shoulder is built I could have tightened it up, but then she could maybe not ever serve again’.”He said he just cleaned it out, but told me I am the coach and have to figure out when she comes back if there is something mechanically she is doing or whatever.”We’d had about a year of changing her service motion and trying different things, she went through a period where she was double-faulting, so people were questioning what we were doing and why she couldn’t get the serve in.”She had a great serve, but at the time her shoulder wasn’t strong enough to do her normal long motion. She got back to the top 10 basically without one of her biggest weapons. “The rest of her career I think she managed it, she could still serve big but I don’t personally think it was anything like before she had the injury. I think if she hadn’t hurt her shoulder she could probably have won double-digit grand slams.”For her to come back and win the French Open a couple of times, because clay was her worst surface when she was younger, was because the serve is not as important on clay.”For somebody to transform their game in a way to win more grand slams on their worst surface is incredible, it shows her resilience and determination.”last_img read more

Closing factories without viable replacements not a reasonable solution

first_imgDear Editor,In view of our economic challenges, it is clear that Guyana cannot finance sugar production forever. The industry was floundering with the loss of the EU preferential market price extended to us. This was compounded by the fact that we have no authority to set prices, as producers of sugar and agricultural products. This is totally unfair, but the stark reality is that developed countries that buy our products have the bargaining power to dictate what they will pay.Despite this, closing the factories, especially without viable replacements, is not a reasonable solution, because Guyana is clearly not equipped to deal with the destructive socio-economic consequences.Closing the factories will create tremendous devastating and negative impacts that will ripple across Guyana on personal, family, community and national levels.Here are a few points to take into consideration:1. Many of our dedicated and professional GuySuCo workers of various trades — from cane cutters to mechanics, factory hands that produce sugar, lab technicians and others – will be forced to move to nearby Suriname or French Guiana, and parts of the Caribbean such as Antigua, Barbados and Trinidad & Tobago. Once those good citizens move, they will not return to Guyana, and we would have lost some quality people possibly forever. Consider this in light of the fact that our population is already small.2. Having a large group of non-working menfolk could result in serious social consequences, with some resorting to indulging in alcohol, drugs and domestic violence due to frustration and depression, all of which could, in the long term, affect their families and communities. One man has already reportedly taken his own life because he felt the future for him and his family was bleak with the shutdown of the estate where he was engaged.I have a few recommendations to make, as it certainly isn’t my style to critique without suggestions.Very soon, oil monies will come into our country. We will receive our partnership percentage and royalties. Subsidiaries of ExxonMobil and other major companies are coming to Guyana. Money will be coming in, and some of those funds could be used to subsidize GuySuCo, the rice industry and our bauxite industry. This will keep workers in those industries gainfully employed, so that their standard of living and family life would be maintained, and their children’s education secured. Using oil money to help other sectors would also help to maintain industrial diversity in Guyana’s economy.While the oil money is not flowing now, we should subsidise GuySuCo from our tax dollars and our Treasury. This should be viewed as an investment, as we would secure our factories and our mass extent of top-quality arable lands which comprise a major part of Guyana. Lifestyles and families will be preserved, as we would be keeping our people employed and gainfully occupied through spinoff industries, providing direct and indirect employment.Here is a thought: Could the factories and lands be used for mass fish, dairy, cattle, sheep and goat and aquaculture production for local and international exports?How about turning an obsolete factory into a meat-packing centre and fish-processing facility? How about using the shuttered factories for the manufacturing of soaps and detergents, or the processing of coconut oil? Could we not become a major producer of coconuts, and develop a vibrant and dynamic coconut industry?On another note, I seriously believe it is wrong for only Government to be responsible for the management of oil production and exploration in this country. A good Government would include the private sector and organizations like the Chamber of Commerce in such massive undertakings. Government should also show good intent and respect — which would create wholesome communication — by including the Opposition.Yours truly,Roshan Khan (Snr)last_img read more