State Tax Revenues Show Improvement….But Still 7% Below Two Years Ago

Posted By on November 30, 2010

Financial comparisons with 2009 will make almost anything look good, even state tax revenues which in the third quarter were up 2.6 percent compared with last year.

Rockefeller Institute of Government “PIT” refers to personal income taxes.

According to preliminary tax collection data compiled by the Nelson A. Rockefeller Institute of Government, 48 early reporting states collected 3.9 percent more in taxes, in nominal terms, from July through September 2010 vs. the same period in 2009.

Still, tax collections were 7 percent below the same period from two years ago, which means the pain that many states have been feeling wll last a while.

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