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Tax Authority State & Local Tax Revenue Report
As the increased federal funding from the 2021 American Rescue Plan Act
runs out, states that responded to healthy coffers by reducing income
tax rates may find themselves struggling to raise revenue sufficient to
support spending. Meanwhile, states that used the federal funds to build
up their rainy-day accounts may have a fiscal cushion for any
difficult times ahead.
Whether the coffers are low or state treasuries are feeling flush, all
are carefully monitoring their inflow of tax revenue. Here, Law360 Tax
Authority provides up-to-date coverage on states' tax revenue.
NEWS & ANALYSIS
La. March Revenues Up $9M From Last Year
By Michael Nunes
Louisiana's net revenue collection in March was $9 million higher than last year, according to the state Department of Revenue.
Ala. Net Tax Collection Through March Up $133M
By Michael Nunes
Alabama's net tax revenue collection from October through March outpaced the total from the same period last fiscal year by $133 million, according to the state Department of Revenue.
NH Total Receipts Through March Up $129M From Estimates
By Michael Nunes
New Hampshire's general fund revenue collection from July through March exceeded estimates by $129 million.
Iowa Revenue Through March Falls $791M From Last Year
By Michael Nunes
Iowa's general fund revenue from July through March dropped $791 million from last year, according to the state Department of Management.
Ark. Revenues Through March Beat Forecasts By $62M
By Michael Nunes
Arkansas' general fund revenue collection from July through March was $62 million better than expected, according to the state Department of Finance and Administration.
Mass. Revenue Through March Beat Estimate By $653M
By Michael Nunes
Massachusetts' general fund revenue collection from July through March outpaced estimates by $653 million, according to a report by the state Department of Revenue.
Miss. Revenues Through March $120M Over Estimate
By Michael Nunes
Mississippi's general fund revenue collection from July through March outpaced estimates by $120 million, according to the state Department of Revenue.
Texas Revenues Through March Up 1% From Last Year
By Michael Nunes
Texas general fund revenue collection from September through March outpaced the same period last year by 1%, according to the state comptroller's office.
W.Va. Revenue Through March Beat Forecasts by $199 million
By Michael Nunes
West Virginia's general fund revenue collection from July through March outperformed estimates by $199 million, according to the State Budget Office.
Fla. Net Revenue Through Feb. Beat Estimates By $137M
By Michael Nunes
Florida's general fund revenue collected from July through February was $137 million stronger than expected, according to the state Office of Economic and Demographic Research.
Maine Revenues Through Feb. Lag $112M Behind Forecast
By Michael Nunes
Maine revenues from July through February underperformed estimates by $112 million, according to the state Department of Finance and Administrative Services.
Mich. General Revenue Climbs $973M From Last Year
By Michael Nunes
Michigan's general fund revenue from October through February exceeded the same period last year by $973 million, according to the State Budget Office.
Del. Net Receipts Rise $357M From Last Year
By Michael Nunes
Delaware's net receipts from July through February outpaced the same period last fiscal year by $357 million, according to the state Department of Finance.
NC Revenues Through February Up $554M From Last Year
By Michael Nunes
North Carolina's general fund revenue collection from July through February outpaced the same period last year by $554 million, according to the state comptroller's office in a report released Monday.
SC Revenue Collection Through Feb. Beat Estimates by $554M
By Michael Nunes
South Carolina's general fund revenue from July through February outpaced estimates by $554 million, according to the state Board of Economic Advisors.
Tenn. Revenues Through February $26M Below Forecast
By Michael Nunes
Tennessee's general fund revenue collection from July through February lagged behind expectations by $26 million, according to the state Department of Finance and Administration.
Ariz. Revenue Lags Behind Forecast By $41M
By Michael Nunes
Arizona's general revenue collection from July through February underperformed expectations by $41 million, according to a state budget committee.
Wis. General Revenue Through Feb. Up $587M
By Michael Nunes
Wisconsin's general fund revenue collection from July through February exceeded the same period last year by $587 million, according to the state Department of Revenue in a report released Friday.
RI Revenue Through Feb. Tops Forecast By $6M
By Michael Nunes
Rhode Island's general fund revenue collection from July through February surpassed an estimate by $6 million, according to the state Department of Revenue.
Utah General Fund Revenue Up $552M Through Feb.
By Michael Nunes
Utah's general fund revenue collection from July through February outpaced the same period last year by $552 million, according to the state's Tax Commission.