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State and Local Tax Revenue increased slightly compared to Q1 2009

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ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jun-29-10 12:38 PM
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State and Local Tax Revenue increased slightly compared to Q1 2009

State and Local Tax Revenue increased slightly compared to Q1 2009

by CalculatedRisk

The Census Bureau reported this morning that state and local tax revenues grew 0.8% in the first quarter 2010 compared to Q1 2009. This was the second straight quarter of growth compared to the same quarter of the previous year.

Individual income tax increased 2.7% compared to Q1 2009.

General sales tax revenues increased 0.3%.

Corporate income tax declined 5.4%.

Property taxes declined 0.6% (the first year-over-same quarter decline since 2003).

<...>

Most of the decline in revenue during the recession came from sharp declines in personal income and sales taxes.



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Skink Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jun-29-10 12:56 PM
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1. In most of Texas the state collects a dollar for every 12.99 purchase.
I know because I returned something the other day that was 12.99.
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