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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
By Michael Nunes
Delaware's net general revenue receipts from July through April beat last fiscal year's total for that period by $64 million, according to the state Department of Finance.
By Michael Nunes
Wisconsin general fund revenue from July through April was $144 million higher than during the same period last fiscal year, according to the state Department of Revenue.
By Michael Nunes
Maine's revenue collection from July through April missed budget projections by $102 million, according to the state Department of Administrative and Financial Services.
By Michael Nunes
Michigan's total general revenue from October through April was down $590 million compared with the same period last fiscal year, the state Budget Office said Thursday.
By Michael Nunes
North Carolina's total revenue for July through April fell $23 million from last year, the Office of the State Comptroller said.
By Michael Nunes
Colorado's total general fund revenue in April was $218 million higher than collections last year, the state Department of Revenue reported.
By Michael Nunes
Idaho general revenue collection from July through April was up $89 million over budget forecasts, the state Division of Financial Management reported.
By Michael Nunes
South Carolina's general revenue collection from July through April was up $333 million from last year, the state Board of Economic Advisors reported.
By Michael Nunes
North Dakota general revenue collection from July through April was up $264 million from budget estimates, the state's Legislative Council reported.
By Michael Nunes
Arizona general revenue fund from July through April was $120 million higher than forecasts, the state Joint Legislative Budget Committee reported.
By Jaqueline McCool
Vermont general revenue collection from July through April exceeded last year's total by $38 million, according to a monthly report by the state Agency of Administration.
By Michael Nunes
Tennessee's tax revenue collection from August through April underperformed a budget projection by $494 million, the state Department of Finance and Administration said in a report.
By Michael Nunes
Utah collected $19 million more in net general revenue from July through April than it did during the same period last fiscal year, the state Tax Commission reported.
By Michael Nunes
Virginia general revenue collection from July through April was up by $1.1 billion compared with the same period last fiscal year, according to a statement from the state Department of Accounts.
By Michael Nunes
Rhode Island's total general revenue from July through April was $6 million higher than budget estimates, according to a report by the state's Department of Revenue.
By Michael Nunes
Kansas' total tax revenue collected from July through April grew $316 million from the previous fiscal year, according to a monthly report by the state Department of Revenue.
By Michael Nunes
Oklahoma's general revenue collection from July through April exceeded budget forecasts by $285 million, according to a monthly report by the state Office of Management and Enterprise Services.
By Michael Nunes
Mississippi revenue collection from July through April was up $51 million from last fiscal year, according to a monthly report by the state Department of Revenue.
By Michael Nunes
Illinois' total general fund revenue for July through April exceeded budget projections by $388 million, the state Office of Management and Budget reported.
By Michael Nunes
Nebraska's net receipts from July through April were $139 million higher than projections, according to a monthly report by the state Department of Revenue published Wednesday.