Personal Income Tax Revenue Declined Sharply in the First Quarter


Publication Date: May 2009

Publisher: Nelson A. Rockefeller Institute of Government

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

Research Area: Banking and finance; 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.