New Jersey's Treasury Department anticipates that tax collections will be off by $807 million for the fiscal year ending June 30, forcing late cuts to keep the budget in balance.
New Jersey collected $1.73 billion in taxes last month, 1 percent better than expected but off slightly through the first five months of the fiscal year.
In a sign of lingering economic uncertainty, tax collections fell short of the Christie administration’s estimates for the third straight month, according to figures released Friday by the Treasury Department.