Friday, August 9, 2013

State Tax Revenues Up But Volatility Continues

Albany, N.Y.- States' tax collections have been growing for 13 straight quarters now. While inflation-adjusted state tax revenues are presently above the recessionary peaks, states continue to face fiscal challenges, particularly due to artificially propped-up personal income tax revenues, according to the latest State Revenue Report from the Rockefeller Institute of Government.

State tax revenues were up 8.6 percent for the first quarter of 2013 compared to the same period of 2012, according to the report by Lucy Dadayan and Donald J. Boyd. States reported the largest growth in personal income tax collections at 18.4 percent, largely due to the acceleration of income into calendar year 2012.

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