Wednesday, May 13, 2009

The Nelson A. Rockefeller Institute of Government reported today that state tax revenues are down 12.6% in the first quarter of 2009:

Corporate income tax: -16.2%

Personal income tax: -15.8%

Sales tax: -7.6%

The decline was biggest in the Far West (-18.1%) and smallest in the Plains (-5.0%). Here are the states with the ten biggest and smallest declines in tax revenues:

1 Alaska -74.1% 2 Arizona -20.8% 3 Georgia -19.3% 4 Oregon -19.1% 5 New Jersey -18.9% 6 New York -17.1% 7 North Carolina -17.1% 8 Massachusetts -16.8% 9 Colorado -16.5% 10 Hawaii -16.2% United States -12.6% 1 Iowa +5.6% 2 South Dakota +3.8% 3 Arkansas -0.2% 4 North Dakota -0.4% 5 Alabama -1.7% 6 Missouri -3.3% 7 Delaware -3.6% 8 Utah -4.0% 9 Rhode Island -4.2% 10 Wyoming -4.3%

Employment declined in all fifty states.

https://taxprof.typepad.com/taxprof_blog/2009/05/state-tax-.html