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Old News Is Bad News - Third Quarter Brings More Decline in Tax Revenues

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Publication Date: November 2009

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

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

Topic: Government (State or regional government)

Keywords: Tax Revenues; State Revenues

Type: Report

Coverage: United States

Abstract:

States suffered from falling tax revenues again in the third quarter, compared to the previous year, according to preliminary data in this report. Tax collections fell 10.7 percent overall. It was the fourth consecutive drop for two major revenue sources -- personal income and sales tax. Further declines are also expected in the fourth quarter.