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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
Missouri's net revenue collection from July through September sank $127 million from the same period last fiscal year, according to a report by the state Department of Revenue.
By Michael Nunes
South Dakota's general fund revenue from July through September trailed a budget estimate by $10 million, according to the state Bureau of Finance and Management.
By Michael Nunes
Montana's general fund revenue from July through September climbed $4 million higher than the total for that period last year, according to a monthly report by the state Department of Revenue.
By Michael Nunes
Arkansas net general revenue from July through September exceeded an estimate by $18 million, the state Department of Finance and Administration reported.
By Michael Nunes
New Hampshire total receipts from July through September fell short of a forecast by $20 million, according to a report by the state Department of Administrative Services.
By Michael Nunes
West Virginia general revenue from July through September surpassed an estimate by $1.2 million, the state Budget Office reported.
By Michael Nunes
Alabama general revenue from October 2023 through September was $306 million higher than during the 2023 fiscal year, according to a report by the state Department of Revenue.
By Michael Nunes
Nevada's sales tax collection in July trailed last year's total for that month by 2.6%, the state Department of Taxation reported.
By Jaqueline McCool
Kansas' general revenue for September was $8.5 million above estimates at nearly $1.1 billion, according to the state's monthly revenue report.
By Michael Nunes
Florida's general fund revenue from July through August was $197 million above budget forecasts, according to the state Office of Economic and Demographic Research.
By Michael Nunes
Texas general revenue increased by more than 5% in September from the same month last year, according to a report by the state comptroller's office.
By Michael Nunes
The District of Columbia increased its estimated revenue collection for the 2024 fiscal year by about $73 million, according to the district's chief financial officer.
By Michael Nunes
Delaware's revenue receipts from July through August increased by more than $21 million from the same period last fiscal year, according to the state Department of Finance.
By Michael Nunes
Idaho's general revenue collection from July through August outpaced budget estimates by $191,000, according to a report from the state Division of Financial Management.
By Michael Nunes
Michigan's general revenues from October 2023 through August were $435 million below the last fiscal year, according to a monthly report from the state budget office on Monday.
By Michael Nunes
Vermont's general revenue collection from July through August beat the total from the same period last year by roughly $30 million, according to the state Agency for Administration.
By Michael Nunes
Colorado's general fund revenue in August was $63 million lower than it was in the same month last year, according to the state Department of Revenue.
By Michael Nunes
Arizona's general revenue collection from July through August was $119 million higher than expected, according to the state Joint Legislative Budget Committee.
By Michael Nunes
South Carolina's general fund revenue from July through August beat last year's total for that period by $184 million, according to the state Board of Economic Advisors.
By Michael Nunes
North Dakota's general revenue collection from July 2023 through August 2024 came in $350 million over estimates, according to the state's Legislative Council.