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

RI Revenue Collection Trails Forecast By $1.1M

By Michael Nunes

Rhode Island's general fund revenue collection for July through May underperformed an estimate by $1.1 million, according to the state Department of Revenue.

NC Total Revenue Through May Up $980M From Last Year

By Michael Nunes

North Carolina's total revenue collection from July through May surpassed the amount collected during the same period last fiscal year by $980 million, according to the state controller's office.

Virginia General Revenue Collection Through May Up $1.6B

By Michael Nunes

Virginia's general fund revenue collection from July through May surged ahead of last year by $1.6 billion, according to a report by the state finance secretary.

Wisconsin Revenue Surges $896M Through May

By Michael Nunes

Wisconsin general revenue collection for July through May beat last year's collection by $896 million, according to a report by the state Department of Revenue released Tuesday.

Ill. Revenue Through May Beats Budget Forecast By $225M

By Michael Nunes

Illinois general fund revenue from July through May outpaced a forecast by $225 million, according to a report by the Office of Management and Budget.

NJ Total Revenues Through May Up $1.58B

By Michael Nunes

New Jersey's total revenue collection for July through May beat last year's collection by $1.58 billion, according to a report by the state Treasury.

Idaho Revenue Falls $99M Short Of Projections Through May

By Michael Nunes

Idaho's general revenue collection from July through May underperformed estimates by $99 million, according to the state Division of Financial Management.

Conn. Net Revenue Through May Up $1.16B From Last Year

By Michael Nunes

Connecticut net revenues from July through May outpaced collections made during the same period last fiscal year by $1.16 billion, according to the state Department of Revenue.

Minnesota Revenue Tops Forecast By $23M In May

By Michael Nunes

Minnesota's general fund revenue collection in May outpaced forecasts by $23 million, according to a report by the state Office of Management and Budget.

Oklahoma General Fund Revenues Beat Forecasts By $98M

By Michael Nunes

Oklahoma's general fund revenue collection from July through May outpaced forecasts by $98 million, according to the state Office of Management and Enterprise Services.

Ohio Revenues Beat Estimates By $1.3B Through May

By Michael Nunes

Ohio's general revenue fund receipts for July through May outpaced forecasts by $1.34 billion, according to a report by the state Office of Budget Management.

Kentucky General Revenue Through May Up $85M

By Michael Nunes

Kentucky's general fund revenue collection for July through May outpaced last year's collection by $85 million, according to a report by the state Department of Revenue.

California Revenues Through May Up $640M From Forecast

By Michael Nunes

California's net general revenue from July through May outpaced forecasts by $640 million, according to a report by the state comptroller.

SD General Fund Revenue Up $48M From Estimate

By Michael Nunes

South Dakota's general fund revenue collection from July through May edged higher than budget forecasts by $48 million, according to a report by the state Bureau of Finance and Management.

Missouri Revenue Collection Through May Falls $16M

By Michael Nunes

Missouri's net revenue collection from July through May lagged $16 million behind last year, according to the state Department of Revenue.

Mass. Revenues Through May Up $2B From Forecast

By Michael Nunes

Massachusetts general revenue collection from July through May outpaced estimates by $2 billion, according to a report by the state Department of Revenue.

Georgia General Fund Receipts Through May Up $536M

By Michael Nunes

Georgia's general fund revenue collection for July through May beat last year's collection for the same period by $536 million, according to a report by the governor's office.

Ala. Revenue Through May Grows $262M From Last Year

By Michael Nunes

Alabama's net general fund revenue for July through May outpaced last fiscal year's collection for that span by $262 million, according to a report by the state Department of Revenue.

NH Revenue Misses Forecast By $36M Through May

By Michael Nunes

New Hampshire's general fund revenue collection from July through May underperformed a forecast by $36 million, according to the state Department of Administrative Services.

Iowa Revenue Through May Falls $745M From Last Year

By Michael Nunes

Iowa's general fund revenue collection for July through May dropped $745 million from last fiscal year's collection during that period, according to a report by the state Department of Management.