Revenue Trends


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Table of Contents

Revenue Trends

10-Year Revenue Trends

Personal Income Tax Growth (adjusted for legislated tax changes)

Sales Tax Growth (adjusted for legislated tax changes)

Corporate Income Tax Growth (not adjusted for legislated tax changes)

Current Revenue Picture

Adjusting for legislated tax changes, almost every state saw strong growth

Every Region Had Strong Growth

PIT Led Revenue Growth Once Again in April-June

All Parts of PIT were strong

States with Big PIT Surprises

Sales Tax and CIT Growth Contributed to Record 11.4%

Hard to find weakness, but not all states are booming

States are reacting to revenue strength by cutting taxes

Rebates/temporary cuts

Permanent PIT cuts

Other Permanent Cuts

What affects statesí PIT growth?

Capital Gains Importance

Which states are most affected by capital gains?

Sales tax: people have been spending rather than saving

Short term risks for sales tax

Long-term sales tax picture: the base is eroding

Internet tax decisions may also erode the base

How are states fixed for a ìrainy dayî?

The Good

The Bad

The Bottom Line

Reports on this topic

How to get reports

New at the Rockefeller Instituteís Web Page

Nelson A. Rockefeller Institute of Government

Author: Elizabeth Davis

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