Thursday, May 13, 2010

Tax Foundation: Tax Revenues Fall in 45 States

According to a recent report from The Tax Foundation, state tax revenues fell by nearly 9% in 2009, compared with 2008. There were 45 states that collected less tax revenue, and only five that saw increased tax revenue. Those five states that saw increases are:

1. South Dakota: 0.9%

2. Iowa: 1.3%

3. Oregon: 1.9%

4. North Dakota: 4.3%

5. Wyoming: 13.9%

As you can see, Wyoming was the only state that saw double-digit increases. On the other hand, here are top 10 states with the largest tax revenue declines:

1. Alaska: 51.9%

2. Arizona: 19.7%

3. South Carolina: 16.8%

4. New Mexico: 15.1%

5. California: 15.0%

6. Idaho: 14.1%

7. Virginia: 12.8%

8. Connecticut: 12.1%

9. New Jersey: 11.9%

10. Utah: 11.9%

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