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.





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--Graphics by Ben Jay.

NEWS & ANALYSIS

SC Revenue Through Dec. Rises $263M From Last Year

By Michael Nunes

South Carolina's general fund revenue collection from July through December outpaced the same period last year by $263 million, according to the state Board of Economic Advisors.

ND Revenues Through Dec. Up $7M From Estimate

By Michael Nunes

North Dakota's general fund revenue from July through December was $7 million higher than estimates, according to the state Legislative Council.

RI Revenue Through December Up $28M From Estimate

By Michael Nunes

Rhode Island's general fund revenue from July through December outperformed an estimate by $28 million, according to the state Department of Revenue.

NC Revenue Collection Through Dec. Up $509M

By Michael Nunes

North Carolina's revenue collected from July through December was $509 million higher than the same period last year, according to the state controller in a report released Thursday.

Ariz. Revenues Through Dec. Up $239M From Forecast

By Michael Nunes

Arizona's general fund revenue collection from July through December outpaced estimates by $239 million, according to the state Joint Legislative Budget Committee.

Neb. Revenue Through Dec. Misses Estimate By $46M

By Michael Nunes

Nebraska's net revenue collection from July through December lagged behind an estimate by $46 million, according to the state's Department of Revenue.

NJ Revenues Through Dec. Up $896M

By Michael Nunes

New Jersey's revenue collection from July through December was $896 million higher than the same period last year, according to the state Treasury Department.

Ill. Revenue Through Dec. Beats Budget Forecast By $233M

By Michael Nunes

Illinois revenue from July through December outpaced estimates by $233 million, according to the Office of Management and Budget.

NY Tax Collection Through December Up By $6.14B

By Michael Nunes

New York's general fund revenue from April through December was $6.14 billion higher than the same period last year, according to the state Department of Taxation and Finance.

Idaho Revenues Through December Up $102M From Forecasts

By Michael Nunes

Idaho's general fund revenue collection from July through December outpaced estimates by $102 million, according to the state Division of Financial Management.

Va. Revenues Through December Up $1.22B From Last Year

By Michael Nunes

Virginia's general fund revenues from July through December rose $1.22 billion compared to the same period last year, according to the state Secretary of Finance.

Ky. General Revenue Through December Down $52M

By Michael Nunes

Kentucky's general fund revenue collection from July through December lagged behind last year by $52 million, according to the Department of Revenue.

Pa. Revenue Through Dec. Beats Forecast By $239M

By Michael Nunes

Pennsylvania's general fund revenue collection from July through December outpaced a forecast by $239 million, according to the state Department of Revenue.

Minn. Revenues Through Dec. $65M Higher Than Forecast

By Michael Nunes

Minnesota's total net revenue from July though December outpaced forecasts by $65 million, according to the state Office for Management and Budget.

Ohio Revenues Through December Beat Estimates By $344M

By Michael Nunes

Ohio's general fund revenue collection from July through December was $344 million higher than estimated, according to the state Office of Budget and Management.

Miss. House Bill Would Create TV Production Tax Credit

By Michael Nunes

Mississippi would create an income tax credit for television productions filmed primarily in the state as part of a bill in the state House of Representatives.

Miss. Revenue Through Dec. Tops Forecast By $164M

By Michael Nunes

Mississippi general fund revenue collection from July through December outpaced an estimate by $164 million, according to the state Legislative Budget Office.

Calif. Tax Revenue Through Dec. Beat Estimates By $10B

By Michael Nunes

California's general fund revenue collection from July through December outpaced forecasts by $10 billion, according to the state controller.

Mo. Revenues Though December Up $202M From Last Year

By Michael Nunes

Missouri's general fund revenue collection from July through December was $202 million higher than during the same period last year, according to the state Office of Administration and Planning.

Ark. Revenue Through Dec. Beats Forecast By $103M

By Michael Nunes

Arkansas general fund revenue collection from July through December outpaced an estimate by $103 million, according to the state Department of Revenue.