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Tax Revenue Tumbles: Change in Receipts, by State
State tax revenues tumbled in the second quarter from year-earlier levels, as the recession pummeled consumers leading to lower income and sales taxes. Vermont was the only state that managed to eke out a gain from 2008. The state was one of the least affected by the housing bust . The total level of taxes across the U.S. was 17% lower from a year earlier. Alaska posted the largest decline, but that was due to the state’s substantial drop in taxes related to energy, as Alaska doesn’t collect individual income taxes or sales taxes. See Conor Dougherty’s article in the Journal here . Below is a sortable chart of tax revenue, by state, and changes in major components of tax receipts. Tax Revenue State Total 2009 tax revenue (in dollars) Change in total taxes from 2008 Change in sales taxes from
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Tax Revenue Tumbles: Change in Receipts, by State
State tax revenues tumbled in the second quarter from year-earlier levels, as the recession pummeled consumers leading to lower income and sales taxes. Vermont was the only state that managed to eke out a gain from 2008. The state was one of the least affected by the housing bust . The total level of taxes across the U.S. was 17% lower from a year earlier. Alaska posted the largest decline, but that was due to the state’s substantial drop in taxes related to energy, as Alaska doesn’t collect individual income taxes or sales taxes. See Conor Dougherty’s article in the Journal here . Below is a sortable chart of tax revenue, by state, and changes in major components of tax receipts. Tax Revenue State Total 2009 tax revenue (in dollars) Change in total taxes from 2008 Change in sales taxes from
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