Magazine article Government Finance Review

State Tax Revenues Show Continued, Steady Growth

Magazine article Government Finance Review

State Tax Revenues Show Continued, Steady Growth

Article excerpt

State tax revenues grew by 5.8 percent in the first quarter of 2015, according to a State Revenue Report released in September 2015 by the Rockefeller Institute of Government. The report includes an analysis of the states' personal income tax revenue forecasts and a discussion of motor fuel taxes. All major sources of tax revenues showed solid growth during this period: Personal tax collections grew by 7.1 percent, corporate tax revenues by 3.3 percent, sales taxes by 5.2 percent, and motor fuels by 4.4 percent.

Total state tax collections for fiscal 2015, which ended in June in most states, maintained positive upward trend. For the first three quarters of the fiscal year, state tax revenue increased by 5.3 percent. (The institute will report on the final quarter when full data are available. …

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