Oct. 3, 2012
New Report Forecasts Slow and Steady State Tax Growth
DENVER – The robust return of state tax collections that typified previous economic recoveries remains elusive, according to a new fiscal brief from the National Conference of State Legislatures.
"Projected State Tax Growth in FY 2013" finds 45 states and the District of Columbia expect total tax collections in fiscal year (FY) 2013 to be higher than they were in FY 2012. For most jurisdictions, however, the anticipated growth is relatively modest, between 1 percent and 4.9 percent.
“Projected State Tax Growth in FY 2013” presents a summary of the projected growth for state total, personal income, sales, corporate income and other taxes compared with FY 2012 estimated collections. The brief is based on a survey of legislative fiscal directors in all 50 states and the District of Columbia conducted in the summer of 2012.
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.