U.S. Census: 2009 Tax Collection Fell 31%
State tax collections fell by 30.8 percent to $1.1 trillion in 2009, according to a recently released report from the U.S. Census Bureau.
The biggest hit for state tax coffers came from what is known as social insurance trust revenue, which is made up of four categories: public employee retirement, unemployment compensation, worker's compensation and other insurance trusts.
While tax collections fell across the board, general expenditures by state governments are up 3.3 percent in 2009 over 2008 for a total of $1.5 trillion.
One large source of revenue for all states is lottery sales. Nationally, lotteries brought in $52.3 billion in 2009. In Massachusetts, residents spent a record $4.2 billion on the lottery. Only one other state - New York - collected more that year, $6.8 billion.
Check out a report on the December 2010 tax collections in Massachusetts here.
WBJ Web Partners
Most Recent
Most Recent
0 Comments