Revenue Declines Less Severe, But States’ Fiscal Crisis is Far From Over

Source: Donald J. Boyd, LucyDadayan, Nelson A. Rockefeller Institute of Government, State Revenue Report, no. 79, April 2010

From the press release:
State tax revenues continued to deteriorate in the fourth quarter of 2009, marking a record fifth consecutive quarter of declining collections, according to a report issued today by the Rockefeller Institute of Government.

Overall, state tax revenues for the fourth quarter of 2009 dropped 4.2 percent from a year earlier and 8.6 percent from the same period two years earlier, according to Rockefeller Institute research and Census Bureau data. Forty-one states reported total tax revenue declines during the quarter, with seven states reporting double-digit declines. Nine states, led by New Hampshire and North Carolina, showed improvement in revenues relative to a year earlier.
See also:
Federal Income Tax Collections Foretell More Bad News for States
Source: Nelson A. Rockefeller Institute of Government, May 4, 2010

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