facebook
twitter
rss
account
search
search
 

State tax revenues up almost 9 percent

April 12, 2012 at 3:22 PM   |   Comments

WASHINGTON, April 12 (UPI) -- State tax revenues in the United States rose 8.9 percent in fiscal year 2011, the Census Bureau reported Thursday.

Overall, taxes collected for states rose by $62.1 billion to $763.7 billion.

Corporate net tax revenue rose 9.4 percent to $40.2 billion, but individual income tax rose even faster, climbing 9.8 percent to $259.1 billion.

Aside from state fees, that leaves general sales tax revenues for states, which rose 8.2 percent to $240.9 billion.

Those three categories, corporate net tax, individual income tax and general sales tax, make up 70.7 percent of all state tax revenues, the bureau said.

Gains in revenue were uneven, with tax revenue gains in North Dakota leading the way with an increase of 44 percent. In Alaska, tax revenues rose 22.4 percent. Tax revenue rose 17.4 percent in California and 15.3 percent in Illinois.

The gains drop off from there, but all 50 states saw increases in total tax revenue in the year.

North Dakota also saw the sharpest rise in revenue from individual income tax -- up 42.6 percent -- followed by Illinois (up 31.9 percent) and Arizona (up 18.5 percent).

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
2014: The Year in Music [PHOTOS]

2014: The Year in Music [PHOTOS]

Most Popular
1
Deloitte: App downloads dwindle, 1 in 3 users disinterested
2
Iran wants to develop mini-LNG plants
3
AESA radar integrated into new F-16V
4
Europe could learn from U.S. shale success
5
GenDyn to study new guidance system for ICBMs
Trending News
Video
x
Feedback