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Personal Income Tax Revenue Declined Sharply in the First Quarter

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Publication Date: May 2009

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

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

Series: State Revenue Flash Report

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

Keywords: State Revenue; Personal Income Tax

Type: Report

Coverage: United States

Abstract:

State tax collections plummeted in the first quarter of 2009, with almost every state showing a decline from a year earlier, according to the Institute's latest state revenue "flash" report, released May 13. The bulk of the decline came from a 15.8 percent drop in personal income tax revenue.