Monday, September 26, 2005
State Tax Revenues Continue to Surge
The Nelson A. Rockefeller Institute of Government has issued a 16-page report, State Revenue Growth Continues in Most States, detailing a 13.3% surge in state tax revenues in the second quarter of 2005 compared with 2004. The chart below lists the states with the five largest and the five smallest percentage increases:
Change in Second Quarter State Tax Revenues
State
Change from 2004
Alaska
42.9%
Vermont
31.0%
New Jersey
28.3%
North Carolina
27.7%
West Virginia
25.3%
U.S. Average
13.3%
Georgia
2.0%
Washington
1.6%
South Dakota
0.3%
Maine
0.2%
New Mexico
(5.5%)
The increases in other large states were:
- California: 17.3%
- Florida: 9.1%
- Illinois: 10.2%
- New York: 17.0%
- Ohio: 9.0%
- Pennsylvania: 6.7%
State corporate income tax revenues had the biggest increase, rising 22.8% in the quarter (personal income tax revenues rose 18.4% and sales tax revenues increased 7.9%).
https://taxprof.typepad.com/taxprof_blog/2005/09/state_tax_reven.html