TRENTON, N.J. (AP) — New figures from the state Treasury show New Jersey collected nearly $2 billion in taxes last month and collections are meeting projections.

The Treasury said Friday in a statement the July 2015 tax collection is $125 million above July 2014.

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Taxes collected for the 13-month period through July totaled $29.7 billion an increase of 7 percent over the previous year.

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Acting Treasurer Robert Romano says collections are expected to be in line with the state’s certified projections.

That’s important because if revenue were below projections the state could have to unexpectedly cut the budget.

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