State Government Tax Collections Increase $56 Billion in 2011

by admin 24. April 2012 04:18

Good News! Census Bureau recent press release states that "Overall government tax collections for states increased $55.7 billion to $757.2 billion in fiscal year 2011". 

 

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 $234.5 billion, up 5.4 percent. Corporate net income tax revenue, individual income tax revenue and general sales tax revenue comprised 70.5 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), Illinois (15.3 percent), and New Mexico (15.1 percent). 

 

Source: http://www.census.gov/newsroom/releases/archives/governments/cb12-62.html

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