Mar 24
8:59 PM

State Tax Collections Down, but California’s Rises

Tax collections for state governments dropped $14.3 billion for 2010, according to the Summary Report by the U.S. Census Bureau.  Considering those collections dropped $65.8 billion in 2009, that's good news.  Categories of taxes include sales, individual and corporate income, severance, and documentary and stock transfer.  Not surprisingly, California collected the most tax revenue of any state in the Union.  In fact, it dwarfs the rest.  For example, California collected over $31 billion in sales tax–a 7.7% increase over 2009.  Its nearest competitor was Texas at a paltry $19.6 billion.  And that figure is only $5 billion less than the entire Northeast region of the country.  Which includes New York State.  California also collected $45.6 billion in individual income tax–a 2.9% increase over 2009–and $9.1 billion in corporation net income tax. [BB]

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