Personal Income Tax Revenue Declined Sharply in the First Quarter

Source: Lucy Dadayan and Donald J. Boyd, Nelson A. Rockefeller Institute of Government, State Revenue Flash Report, May 13, 2009

State tax collections plummeted in the first quarter of 2009, with almost every state showing a decline from a year earlier, according to the Institute’s latest state revenue “flash” report, released May 13. The bulk of the decline came from a 15.8 percent drop in personal income tax revenue. Employment declined in every state during the quarter.
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