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1 Mark Robyn, Census Bureau Releases 2010 State Tax Collection Data 1 (2011)

handle is hein.taxfoundation/ffcggxz0001 and id is 1 raw text is: \\\..... .... . ,.- , ...-....... ..,... ...... .. .. ApX/ , 2011 No. 266 Census Bureau Releases 2010 State Tax Collection Data By Mark Rolbyn New data from the Census Bureau shows that state-level tax revenue fell for the second year in a row in 2010. State tax revenues fell by more than $14 billion from 2009 to 2010, about a 2 percent drop. Falling revenues helped contribute to state budget problems in 2009 as well, when revenues fell by about 8.5 percent from 2008 levels (see Tables 1 and 2). Table 1. State Government Tax Collections, FY 2006 - 2010 ($Billions) Total Tax Individual Corporate Year Collections Income Tax Income Tax Sales Taxes Other Taxes 2007 $757 $266 $53 $353 $86 2009 $719 $247 $41 $345 $86 Source: US Census Bureau, State, & Local Gov ernments Division Note: This data is not inflation-adjusted and excludes local level tax collections, the largest of which are local property taxes. All the major sources of state revenue (sales taxes, individual income taxes, and corporate income taxes) fell in 2010. In terms of percentage change, corporate income taxes dropped the most, falling 6.7 percent in 2010. Corporations tend to have more volatile tax liabilities than individuals because their profits are strongly tied to the health of the economy. Table 2 illuminates this relationship. Corporate income taxes grew 11 percent in 2007, faster than any other major tax, while the economy was still doing well. However, in 2008 as the economy began to have trouble, corporate taxes crashed faster than other taxes, falling 2.2 percent while other taxes simply grew at slower rates. By 2009 all the major taxes were falling, with corporate taxes experiencing the most dramatic drop, falling nearly twice as fast as individual income taxes.

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