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Pepperdine University School of Law

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Wednesday, May 13, 2009

State Tax Revenues Fall 12.6%

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.

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Comments

I guess it's about time to nationalize the states?

Posted by: Robert | May 14, 2009 8:25:26 AM