Tax Authority State & Local Tax Revenue Report

As the increased federal funding from the 2021 American Rescue Plan Act runs out, states that responded to healthy coffers by reducing income tax rates may find themselves struggling to raise revenue sufficient to support spending. Meanwhile, states that used the federal funds to build up their rainy-day accounts may have a fiscal cushion for any difficult times ahead.

Whether the coffers are low or state treasuries are feeling flush, all are carefully monitoring their inflow of tax revenue. Here, Law360 Tax Authority provides up-to-date coverage on states' tax revenue.






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--Graphics by Ben Jay.

NEWS & ANALYSIS


La. Net Collections In Jan. Lower Than Last Year By $245M

By Michael Nunes

Louisiana's total state revenue in January lagged behind collections last year in the same period by $245 million, according to a monthly report by the state Department of Revenue.

Fla. Net Revenue Beats Estimate By $627M Through Dec.

By Michael Nunes

Florida's net revenue collection from July through December topped a government estimate by $627 million, according to a report by the state Office of Economic and Demographic Research.

Okla. General Revenues Through Jan. Up $40M From Estimate

By Michael Nunes

Oklahoma's total general revenue collection from July through January beat estimates by $40 million, according to a report by the state Office of Management and Enterprise Services.

Minn. General Revenues In Jan. Less Than Forecast

By Michael Nunes

Minnesota's total revenues in January lagged behind budget forecasts, according to a memo by the state Department of Management and Budget.

Ky. Revenue Through Jan. Up $197M From Last Year

By Michael Nunes

Kentucky's general revenue collection from July through January was $197 million higher than the total for the same period last fiscal year, according to the Office of State Budget.

Ohio General Revenues Through Jan. Beat Estimate By $226M

By Michael Nunes

Ohio's general revenue from July through January surpassed forecasts by $226 million, according to a report by the Office of Budget Management.

Calif. Revenues Through Jan. Up $3.39B Over Forecast

By Michael Nunes

California's total revenues from July through January beat estimates by $3.39 billion, according to the state controller.

NM House Bill Seeks Small-Biz Tax Credit For Disasters

By Michael Nunes

New Mexico would allow small businesses that have been affected by a disaster to claim a tax credit under a bill introduced in the state House of Representatives.

Conn. Net Revenue Through Dec. Up $421M From Last Year

By Michael Nunes

Connecticut general net revenues from July through December outpaced the same period last fiscal year by $421 million, according to a report by the state Department of Revenue Services.

SD General Revenues Through Jan. Beat Forecast By $2.5M

By Michael Nunes

South Dakota's general fund revenue collection from July through January outpaced estimates by $2.5 million, the state's Bureau of Finance and Management said.

NH Tax Revenues Through Jan. $39M Under Forecast

By Michael Nunes

New Hampshire's revenue collection from July through January trailed estimates by $39 million, according to the state Department of Administrative Services.

Iowa Tax Revenue Collection Through Jan. Down $243M

By Michael Nunes

Iowa's total receipts from July through January were $243 million lower than the same period last year, according to a report by the state Department of Management.

Montana's Revenue Through Jan. Drops $116M

By Michael Nunes

Montana's general fund revenue collection from July through January sank $116 million from the total for the same period last fiscal year, according to the state Department of Revenue.

Mo. Revenue Through Jan. Falls $163M

By Michael Nunes

Missouri's net revenue collection from July through January dropped $163 million from the total for the same period last fiscal year, according to the state Department of Revenue.

Vt. Tax Collection Through Dec. Up $100M From Last Year

By Michael Nunes

Vermont's general fund revenue from July through December exceeded collections made during the same period last year by $100 million, according to the state Agency of Administration.

Ark. Tax Revenue Through Jan. Up $44M From Estimate

By Michael Nunes

Arkansas' total net revenue from July through January beat budget estimates by $44 million, according to a report by the state Department of Finance and Administration reported.

Ala. Tax Collection Through Jan. Drops $76M From Last Year

By Michael Nunes

Alabama's revenue collection from October through January fell $76 million compared with collections made during the same period last fiscal year, the state Department of Revenue said.

Texas Revenue Collection Through Jan. Up 5% From Last Year

By Michael Nunes

Texas' net revenue collection from September through January was 5% higher than the same period last fiscal year, according to the state Comptroller's Office.

W.Va. Revenues Through Jan. Beat Forecast By $28M

By Michael Nunes

West Virginia's general revenue collection from July through January exceeded a budget forecast by $28 million, according to a report by the State Budget Office.

Delaware's Revenue Surges $157M In 1st Half Of Fiscal Year

By Michael Nunes

Delaware's total receipts from July through December exceeded the same period in the last fiscal year by $157 million, according to the state Department of Finance.