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Sales Tax Decline in Late 2008 Was the Worst in 50 Years: Early Data for 2009 Show Further, Sharp Drop in Tax Revenues for Most States

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Publication Date: April 2009

Publisher(s): Nelson A. Rockefeller Institute of Government

Author(s): Lucy Dadayan; Donald J. Boyd

Topic: Banking and finance (Taxation and tax policy)
Government (State or regional government)

Keywords: State Tax Collections; State Revenue

Type: Report

Coverage: United States

Abstract:

State tax collections for late 2008 dropped by 4 percent nationwide--with dips in 41 states--marking the first such decline in more than six years. The drop in sales taxes was particularly sharp, at over 6 percent. Including local sales taxes, the decline was the worst in a half-century. Data for early 2009 show even more dramatic worsening of statesâ fiscal conditions.