State government tax revenues showed year-over-year growth at 4.2 percent in the first quarter of 2020. However, preliminary data indicate double-digit declines in state government tax revenues in the second quarter of 2020 because of the COVID-19 pandemic and...
On November 3, 2020, Californians will vote on Proposition 15, also known as the California Schools and Local Communities Funding Act of 2020. The proposition would require commercial and industrial properties to be taxed based on their market value rather than on their purchase price. This...
On November 3, 2020, Californians will vote on Proposition 15, also known as the California Schools and Local Communities Funding Act of 2020. The proposition would require commercial and industrial properties to be taxed based on their market value rather than on their...
On November 3, 2020, Californians will vote on Proposition 15, also known as the California Schools and Local Communities Funding Act of 2020. The proposition would require commercial and industrial properties to be taxed based on their market value rather than on their...
State tax revenues showed continued growth in the first half of fiscal year 2020. State government tax revenues from major sources showed solid year-over-year growth at 6.6 percent in the fourth quarter of 2019. Preliminary data show strong growth in January and February before declines in March...
The global pandemic caused by the novel coronavirus outbreak will dramatically affect state tax revenues over the next months and possibly years. This brief summarizes how state revenue forecasters viewed their state economies before the COVID-19 pandemic, as documented in governors’ proposed...
State and local government tax revenues showed normal growth in the third quarter of 2019 after declines in the fourth quarter of 2018, much weaker growth in the first quarter of 2019, and robust growth in the second quarter of 2019. Most of the volatility in the prior quarters...
In this brief, we consider both personal and business income tax expenditures at the state level. We use California, Massachusetts, Minnesota, and the District of Columbia as examples. We separate tax expenditures into those that occur because of conformity with federal tax provisions and those...
Tracy Gordon, senior fellow, testified before the US House of Representatives Committee on the Budget for a hearing on “Why Federal Investments Matter: Stability from Congress to State Capitals.” In her testimony she notes that while states and localities are key economic players and service...
State government tax revenues fluctuated wildly throughout state fiscal year 2019, which ended on June 30th in 46 states. The fluctuations were largely related to income tax receipts and caused by the Tax Cuts and Jobs Act.
Overall, state tax revenues showed robust growth in the second...
State Tax and Economic Review, 2020 Quarter 1
State government tax revenues showed year-over-year growth at 4.2 percent in the first quarter of 2020. However, preliminary data indicate double-digit declines in state government tax revenues in the second quarter of 2020 because of the COVID-19 pandemic and...
California’s State and Local Revenue System
On November 3, 2020, Californians will vote on Proposition 15, also known as the California Schools and Local Communities Funding Act of 2020. The proposition would require commercial and industrial properties to be taxed based on their market value rather than on their purchase price. This...
California’s Infrastructure Challenges
On November 3, 2020, Californians will vote on Proposition 15, also known as the California Schools and Local Communities Funding Act of 2020. The proposition would require commercial and industrial properties to be taxed based on their market value rather than on their...
California’s K–12 Education Needs
On November 3, 2020, Californians will vote on Proposition 15, also known as the California Schools and Local Communities Funding Act of 2020. The proposition would require commercial and industrial properties to be taxed based on their market value rather than on their...
State Tax and Economic Review, 2019 Quarter 4
State tax revenues showed continued growth in the first half of fiscal year 2020. State government tax revenues from major sources showed solid year-over-year growth at 6.6 percent in the fourth quarter of 2019. Preliminary data show strong growth in January and February before declines in March...
State Revenue Forecasts Before COVID-19 and Directions Forward
The global pandemic caused by the novel coronavirus outbreak will dramatically affect state tax revenues over the next months and possibly years. This brief summarizes how state revenue forecasters viewed their state economies before the COVID-19 pandemic, as documented in governors’ proposed...
State Tax and Economic Review, 2019 Quarter 3
State and local government tax revenues showed normal growth in the third quarter of 2019 after declines in the fourth quarter of 2018, much weaker growth in the first quarter of 2019, and robust growth in the second quarter of 2019. Most of the volatility in the prior quarters...
State Income Tax Expenditures
In this brief, we consider both personal and business income tax expenditures at the state level. We use California, Massachusetts, Minnesota, and the District of Columbia as examples. We separate tax expenditures into those that occur because of conformity with federal tax provisions and those...
Strengthening the Federal-State-Local Partnership in Recession and Recovery
Tracy Gordon, senior fellow, testified before the US House of Representatives Committee on the Budget for a hearing on “Why Federal Investments Matter: Stability from Congress to State Capitals.” In her testimony she notes that while states and localities are key economic players and service...
State Tax and Economic Review, 2019 Quarter 2
State government tax revenues fluctuated wildly throughout state fiscal year 2019, which ended on June 30th in 46 states. The fluctuations were largely related to income tax receipts and caused by the Tax Cuts and Jobs Act.
Overall, state tax revenues showed robust growth in the second...