U.S. State Revenue Grew 7.2% in January, Urban Institute Says

March 6, 2020, 8:29 PM UTC

U.S. state revenue grew 7.2% in January compared to a year earlier, based on preliminary data from 45 states, the Urban Institute said.

  • Personal income taxes grew 8.9%
  • Sales taxes grew 6.3%
  • Corporate income taxes declined 7.9%
  • From July through January total tax revenue grew 6.4%; 42 states reported total revenue growth, while 3 states (Alaska, New Hampshire and West Virginia) reported declines
  • State revenue performance for the next few months may fluctuate because of uncertainty surrounding the spread of the coronavirus, the fiscal and economic effects of the emergency Federal Reserve interest-rate cut , and presidential elections, the Urban ...

Learn more about Bloomberg Tax or Log In to keep reading:

See Breaking News in Context

From research to software to news, find what you need to stay ahead.

Already a subscriber?

Log in to keep reading or access research tools and resources.