Capitol Update piece on state tax revenues, noting that corporate income taxes

Capitol Update piece on state tax revenues, noting that corporate income taxes continue below estimates, causing a delay in the re-projection of estimated state revenues. Jerome Gerard, chairman of the Maine Revenue Forecasting Committee, said that corporate receipts were down $15 million in December, 38 percent below estimates. Mike Allen, research director of Maine Revenue Services, cannot explain why revenues are off from estimates, adding that only one other state saw a decrease. Gov. John Baldacci said he will adjust the budget if corporate revenues do not bounce back