Tuesday, April 24, 2012
Tax Foundation, State Tax Collections Rising in Post-Recession Recovery:
After two years of falling revenue, total state government tax collections increased by nearly 9% during 2011, according to data released by the United States Census Bureau. Total collections were $757 billion last year, still slightly less than 2007 levels prior to the recession. ... All major types of state taxes saw increased collections in 2011. ... Individual income and corporate income tax collections had the largest increases, increasing by 9.8% and 9.4%, respectively.