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

Dadayan, Lucy; Boyd, Donald J.

,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

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: Nelson A. Rockefeller Institute of Government

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

Research Area: Banking and finance; 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 statesÃƒÂ¢ fiscal conditions.

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