Denver — A 50-state survey shows an estimated net tax increase of $2.3 billion in revenue, representing 0.3 percent of the prior year’s tax collections, according to a new report issued by the National Conference of State Legislatures (NCSL).
The report, “State Tax Actions 2016 Report” includes tax actions taken during regular and special legislative sessions in 2016, as well as actions approved by voters during the November 2016 general election. Fifty states provided information, which was obtained through a survey of the National Association of Legislative Fiscal Offices.
The reported changes generally take effect in fiscal year (FY) 2017. For 46 states, the fiscal year begins July 1 and ends June 30. Exceptions are Alabama and Michigan, where fiscal years begin in October and end in September; Texas, September to August; and, New York, April to March.
This annual report is a cooperative effort of the National Association of Legislative Fiscal Offices (NALFO) and the National Conference of State Legislatures’ (NCSL) Fiscal Affairs Program. Read the report.
NCSL is a bipartisan organization that serves the legislators and staffs of the states, commonwealths and territories. It provides research, technical assistance and opportunities for policymakers to exchange ideas on the most pressing state issues and is an effective and respected advocate for the interests of the states in the American federal system.