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


Mich. General Revenue Drops $283M In Fiscal 2024

By Michael Nunes

Michigan general revenue collection from October 2023 through September totaled $283 million less than the state's revenue for the previous fiscal year, according to the state Budget Office.

Vt. Revenue Through Sept. Rises $53M From Last Year

By Michael Nunes

Vermont's total general fund revenue from July through September beat last year's total for that period by $53 million, according to a report by the state Agency of Administration.

Maine Revenue Through Sept. Up $132M From Estimate

By Michael Nunes

Maine's general revenue collection through the first three months of its fiscal year outpaced an estimate by $132 million, according to a report by the state Department of Administrative Financial Services.

Utah Revenue Collection In Fiscal Year 2024 Falls $31M

By Michael Nunes

Utah general revenue collection through fiscal 2024 fell $31 million from fiscal year 2023, according to the Utah State Tax Commission.

RI Revenue Collection Beat Budget Estimates By $76M

By Michael Nunes

Rhode Island general revenue collection from July through September outpaced forecasts by $76 million, according to the state Department of Revenue.

ND General Revenue Up $369M From Estimate

By Michael Nunes

North Dakota general revenue collection surpassed a forecast by $369 million through the first 15 months of the state's biennium, according to the state Legislative Council.

Tenn. Revenue Through Sept. Beats Estimate By $103M

By Michael Nunes

Tennessee's revenue collection in August and September totaled $103 million more than a state estimate for that period, the state Department of Finance and Administration reported.

Mass. Revenue Collection Through Mid-October Up $488M

By Michael Nunes

Massachusetts' revenue collection from July through Oct. 15 brought in $488 million more than the same period last year, according to a report by the state Department of Revenue.

Va. Revenues Through Sept. Grow $656M From Last Year

By Michael Nunes

Virginia's general revenue collection from July through September was $656 million higher compared with the same period last fiscal year, according to the state secretary of finance.

Neb. Receipts Sink $121M Through Sept. From Previous Year

By Michael Nunes

Nebraska's total net receipts from July through September sank $121 million compared with the same period in the last fiscal year, according to the state Department of Revenue.

Ariz. Revenues Through Sept. Beat Estimate By $108M

By Michael Nunes

Arizona's total general fund revenue from July through September outpaced forecasts by $108 million, according to the state's Joint Legislative Budget Committee.

NJ General Revenues Through Sept. Rise 4% From Last Year

By Michael Nunes

New Jersey general revenue from July through September beat last year's collection by 4.3%, according to the state Department of the Treasury.

Ill. Revenue Collection Through Sept. Lags Forecasts By $12M

By Michael Nunes

Illinois' general fund revenue collection from July through September came in below forecasts by $12 million, according to a report by the Governor's Office of Management and Budget.

Idaho Revenue Through Sept. Exceeds Forecast By $66M

By Michael Nunes

Idaho's general fund revenue from July through September beat an estimate by $66 million, the state Division of Financial Management said.

Conn. Net Revenue Through Sept. Beats Last Year By $123M

By Michael Nunes

Connecticut's net revenue collection from July through September was $123 million higher than it was during the same period last year, according to the state Department of Revenue Services.

NY Tax Collections Through Sept. Up $3B From Last Year

By Michael Nunes

New York's net tax collection from July through September outpaced last year during the same period by $3.1 billion, according to a report by the state Department of Taxation and Finance.

Ky. Revenue Through Sept. Up $50M From Last Year

By Michael Nunes

Kentucky general fund revenue from July through September totaled $50 million more than it did during the same period last year, according to the Office of State Budget Director.

NC Revenue Through Aug. Up $101M From Last Year

By Michael Nunes

North Carolina's total revenue for July and August was $101 million higher than during the same period last fiscal year, according to the Office of State Controller.

Wis. Revenue Through Sept. Up $171M From Last Year

By Michael Nunes

Wisconsin's general purpose revenue from July through September totaled $171 million more than last year's collection for the same period, according to the state Department of Revenue.

Ohio General Revenue Collection Up $309M From Estimate

By Michael Nunes

Ohio's general revenue collection from July through September beat estimates by $309 million, according to a report by the state Office of Budget and Management.