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1 Chris R. Edwards, Survey of State Tax Rates and Collections 1 (1992)

handle is hein.taxfoundation/srgxz0001 and id is 1 raw text is: FOUNDATION November 1992 Survey of State Tax Rates and Collections $5.5 Billion Jix Increase Legislated for FY1993; Itn-Year 1alx Rise Outpaces Income Growth in i3 States Following the record tax increase of $17 billion for FY'92, state governments have enacted tax increases for FY'93 that will total $5.5 billion. Taxpayer anger at the large hikes in FY'91 and FY'92 has forced many states to lg:iure / Personal Income Growth vs. lax Grou'thJbr 50 States (a) Fiscal Years 1981-1991 9.0% 8.0% - .0% 6.0% 5.0% - 4.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% Taxes per Capita Growth Rate (it) Alaska not Shown: District of (olumbia incldcd SoUrc Tax OtItLiI6l (sc datai in talc 6) moderate new demands this year, despite current budgetary stress caused by record state spending and a weak economy. Fhe largest increases this year were in general sales taxes. motor fuel taxes, and health care provider taxes. This year's tax increase will further erode after-tax l)ersonal income. From 1981 to 1991, state taxes grew at 6.6 percent annually while personal income grew at a lower 5.7 percent clip. Tax growth outpacCd income growth in 43 states (see Figure 1 and Table 6). Tax Increases for FY1993 While 35 states have enacted tax increases for FY'93, nine states cut taxes for FY'93. The largest tax hikes, on a per capita basis, occurred in Kansas, Louisiana, 'ennessee, Iowa, New York, and Maryland. New Jersey, Massachusetts, and Pennsylvania have enacted the largest tax cuts for FY'93 (sec Table 2). Louisiana, New York, Rhode Island, and the District of (Columbia boosted taxes significantly for the second year in a row. However, many states that substantially boosted taxes for FY'92 avoided large hikes for FY'93. These included California, Delaware, Maine, Nevada, Pennsylvania, and Vermont. After hitting California taxpayers with a $6.6 billion dollar tax increase last year, that state's government adopted a budget in September with no major tax increases. And two years after New Jersey enacted the largest state tax increase in its history, the 9.0% New Jersey legislature partly reversed this increase by cutting its sales tax for FY'93. Sales Taxes Five states raised sales tax rates for FY'93, while two states lowered rates. Mississippi IJy Chris R. Iclaard's Director o/ 7ix and Budgel Research lTx Foundalion N NJ MA --ME MA CT VA GAN VT~ AL MD NYTNHI ASID DE SC RI PAAR DC MI ILWI MNFL KYMO OR UT KS ID IN NE NM CA IA WV WAOH MT ND COZ NV TX OK WY I I Tax Growth Equals Income Growth come Growth faster than Tax Growth i Old

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