State Tax Collections Increase $62 Billion

Photo by K. C. Lewis, Third-Eye Photography

Although many state governments are claiming they don't have any money, the U.S. Census Bureau reported today that overall government tax collections for states increased to $763.7 billion in fiscal year 2011.

“The nationwide increases in state government tax revenue are an indication of the stabilization of revenues for state governments,” said Lisa Blumerman, chief of the Governments Division. “These data help us understand the condition of our state governments and their fiscal ability to continue to provide public services.”

It was also noted that the largest increases in insurance premium sales tax revenue were seen in the Northeast and South.

Corporate net income tax revenue was at $40.2 billion, up 9.4 percent, while tax revenue on individual income was at $259.1 billion, up 9.8 percent. General sales tax revenue was at $240.9 billion, up 8.2 percent. Corporate net income tax revenue, individual income tax revenue and general sales tax revenue comprised 70.7 percent of all state government tax collections nationally.
              
All 50 states saw an increase in total tax revenue in fiscal year 2011, led by North Dakota (44.5 percent), Alaska (22.4 percent), California (17.4 percent) and Illinois (15.3 percent).

For more information about this survey, visit <http://www.census.gov/govs/statetax/>.