About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

38 Tax Features 1 (1994)

handle is hein.tera/taxfeaturs0038 and id is 1 raw text is: TAX@40 FOUNDATION TAX January 1994 Volume 36 Number 1 State Tax Collections Jump 4.9 Percent in 1993 Tax Receipts Grew Nearly Two Times Faster than Personal Income States increased total tax collections an inflation-adjusted 4.9 percent from FY 1992 to FY 1993, according to a new study by the Tax Chart 1 State Tax Collections 1983-1993, Current and Constant (1983) Dollars Foundation, constituting the largest annual increase in state tax receipts since 1985 (see Charts 1 and 4). In his latest Special Report, titled State Tax Rates and Collections in 1993, Dr. Arthur Hall notes that from FY 1992 to FY 1993 state tax collections grew 3.7 percentage points (or 1.7 times) faster than personal income. In comparison, between 1983 and 1993 state tax collections grew at an inflation-adjusted annual average of 1.1 percentage points (or 1.4 times) faster than personal income. Between 1992 and 1993, Alaska (a special case because of oil drilling) saw the highest tax growth relative to personal income growth, followed by Mississippi, Colorado, North Dakota, and Tennessee. In contrast, Nebraska, Idaho, Pennsylvania, West Virginia and Montana constitute the top five states where personal income grew faster than state taxation. (If Washington, D.C., were a state, it would rank third, ahead of Pennsylvania. See Chart 2.) Among those state taxes and fees that saw the fastest revenue growth between 1992 and 1993 were property taxes (22.7 percent growth), corporate income taxes (13 percent), public utility taxes (12.8 percent), severance taxes (10.9 percent), and license fees (10.6 percent). In contrast, state collections from State Tax Rates continued on page 2 Capital Gains Tax Cut: Prescription for Economic Growth and Deficit Reduction Rep. DavidDreier (R-Calif) 4-5 FROT

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most