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
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