I have been used to receiving any state or federal income tax refunds owed to me towards the end of May. But this year my state income tax refunds (I was not due a federal refund) were much delayed. My New Jersey state income tax refund finally arrived yesterday, more than 3 months after I filed. The federal government pays interest on income tax refunds after 45 days but New Jersey gives itself a rather generous 6 months .
And my New York state income tax refund still hasn't arrived. Apparently New York changed contractors and this has led to delays. At least New York also pays interest after 45 days (on excess withholding).
Chart of the Day: Net New Jobs in May
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