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Tax Authority State & Local Tax Revenue Report
As the increased federal funding from the 2021 American Rescue Plan Act
runs out, states that responded to healthy coffers by reducing income
tax rates may find themselves struggling to raise revenue sufficient to
support spending. Meanwhile, states that used the federal funds to build
up their rainy-day accounts may have a fiscal cushion for any
difficult times ahead.
Whether the coffers are low or state treasuries are feeling flush, all
are carefully monitoring their inflow of tax revenue. Here, Law360 Tax
Authority provides up-to-date coverage on states' tax revenue.
NEWS & ANALYSIS
By Michael Nunes
Mississippi's general revenue collection from July through October underperformed the same period in the last fiscal year by $39 million, according to the state Department of Revenue.
By Michael Nunes
Louisiana revenue in October fell $242 million from the total for the same month last year, according to a report from the state Department of Revenue.
By Michael Nunes
Nebraska's total net revenue from July through October was level with estimates, according to the state Department of Revenue.
By Michael Nunes
Illinois' general revenue collection from July through October outpaced a government forecast by $415 million, according to the state Office of Management and Budget.
By Michael Nunes
Indiana general revenue collection from July through October underperformed an estimate by $243 million, according to the state Budget Agency.
By Michael Nunes
New York's total tax collection from April through October grew $14.13 billion compared with the same period last fiscal year, according to the state Department of Taxation and Finance.
By Michael Nunes
Virginia's general revenue collection from July through October was $732 million higher than it was during the same period last fiscal year, according to the state Department of Revenue.
By Michael Nunes
New Jersey's revenue collection from July through October was $323 million more than the same period in the last fiscal year, according to the state Department of the Treasury on Monday.
By Michael Nunes
Ohio's total revenues from July through October beat estimates by $313 million, the state Office of Budget and Management reported.
By Michael Nunes
Kentucky general revenue collection from July through October rose roughly $500,000 compared with the same period last year, according to the Office of State Budget Director.
By Jaqueline McCool
Georgia's October general fund receipts were $89 million less than in October 2023, according to the state Department of Revenue.
By Michael Nunes
California's total receipts from July through October exceeded estimates by roughly $9 billion, according to the state controller.
By Michael Nunes
South Dakota's total revenue collection in July through October fell nearly $42 million compared with the same period last fiscal year, according to a report by the state Bureau of Finance and Management.
By Michael Nunes
New Hampshire's total receipts from July through October fell $1 million short of estimates, the state Department of Administrative Services reported Thursday.
By Michael Nunes
Missouri's tax collection dropped by $135 million in July through October compared with the same period last fiscal year, according to the state Department of Revenue.
By Michael Nunes
Alabama's general revenue collection in October fell $35 million compared with the same month last fiscal year, according to a report by the state Department of Revenue.
By Michael Nunes
West Virginia's general revenue collection from July through October unperformed an estimate by roughly $14 million, according to the state Budget Office.
By Michael Nunes
Nevada's sales tax collection in August trailed last year's total for that month by 1.7%, the state Department of Taxation reported.
By Michael Nunes
Montana general revenue collection from July through October fell roughly $6 million compared with the same period in the last fiscal year, according to the state Department of Revenue.
By Michael Nunes
Florida's net revenue collection from July through September beat revenue estimates by $226 million, according to a report by the state Office of Economic and Demographic Research.