Posted By thestatedtruth.com on August 29, 2010

Only three states had declining revenue,  Illinois revenue declined 7%, while Michigan’s collections fell 3.8%.   So, not sure just how this could happen, but….California, tax revenue declined 0.9%, despite 12% increase in income-tax collections,  this according to the Rockefeller Institute.  Hmm    Best to remember it’s just one quarter and most state budgets are still busted.    Question: Inquiring minds want to know, was this increase mostly because of the government stimulus package!

In a surprising new report,  state tax revenue rose in the second quarter after 5 losing quarters in a row.. Overall tax revenue increased 2.2% in 47 states that have reported their receipts covering the three months ended June 30.  But in three states starting with California, tax revenue declined 0.9%, despite 12% increase in income-tax collections,  according to the Rockefeller Institute.  Illinois revenue declined 7%, while Michigan’s collections fell 3.8%.

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