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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
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.
By Michael Nunes
Connecticut's net revenue from July through April was $618 million ahead of last year, according to a monthly report by the state Department of Revenue Services.
By Michael Nunes
New Jersey general revenue collection from July through April dipped $709 million compared with the same period last year, the state Department of the Treasury reported Tuesday.
By Michael Nunes
Louisiana's total revenue in April was $120 million higher than the same month last year, according to a report by the state Department of Revenue.
By Michael Nunes
Minnesota's total revenue in April beat budget estimates by $16 million, according to a report by the state Department of Management and Budget.
By Michael Nunes
Georgia's general fund receipts from July through April dropped $341 million from the same period last year, according to the state's Department of Revenue.
By Michael Nunes
Ohio general revenue collection from July through April trailed budget estimates by $1.1 billion, according to a monthly report by the state Office of Budget and Management.
By Michael Nunes
California's total receipts from July through April sank $4.8 billion from the governor's 2024-2025 budget, according to a monthly report by the state controller.
By Michael Nunes
Indiana's total general fund revenues in July through April were roughly $23 million higher than budget forecasts, according to a report by the State Budget Agency.
By Michael Nunes
Kentucky general revenue collection from July through April grew $461 million from the last fiscal year, according to a monthly report from the Office of State Budget Director.
By Michael Nunes
South Dakota's general revenue collection was up roughly $24 million over budget estimates from July through April, according to a monthly report by the state Bureau of Finance and Management.
By Michael Nunes
Missouri's net general revenue collection from July through April was $280 million higher than in the previous fiscal year, according to a report by the state Office of Administration, Division of Budget and Planning.
By Michael Nunes
Pennsylvania's general fund revenue from July through April was $739 million higher than budget estimates, according to a monthly report released Friday by the state Department of Revenue.
By Michael Nunes
New Hampshire general fund receipts were $142 million higher than budget estimates in July through April, according to a report by the state Department of Administrative Services.
By Michael Nunes
Florida's net revenue collection from July through March was up $468 million over budget estimates, the state Office of Economic and Demographic Research reported.