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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


Oregon Lowers Revenue Forecast For Biennium By $162M

By Michael Nunes

The forecast of Oregon's general fund revenue for the 2023-2025 biennium was lowered by $162 million, according to a report released by the state Office of Economic Analysis.

Nebraska Net Receipts Through April Level With Estimates

By Michael Nunes

Nebraska's net general fund receipts from July through April were in line with budget forecasts, according to a report by the state Department of Revenue, but trailed last year's collection by $1 billion.

Okla. Revenue Through April Beats Estimate By $144M

By Michael Nunes

Oklahoma general fund revenue from July through April outpaced a forecast by $144 million, according to a report by the state Office of Management and Enterprise Services.

Ill. Revenue Beats Budget Forecast By $58M

By Michael Nunes

Illinois general fund revenue collection from July through April edged higher than a budget forecast by $58 million, according to the governor's Office of Management and Budget.

Wis. General Revenues Through April Up $512M

By Michael Nunes

Wisconsin's general purpose revenue collection from July through April was $512 million higher than last year during the same period, according to the state Department of Revenue.

NJ's 2025 Revenue Forecast Revised Higher

By Michael Nunes

New Jersey's tax revenue collection so far this fiscal year has been better than expected, the state's treasurer told the state Assembly Budget Committee on Wednesday, saying her department would increase its revenue forecast for both fiscal year 2025 and 2026.

Pa. April Collections Surpass Estimate By $363M

By Jaqueline McCool

Pennsylvania's general fund collections for April were $363 million higher than the state's estimate, finishing at $6.2 billion, the state Department of Revenue said in a report.

Ohio Revenues Through April Beat Estimates By $533M

By Michael Nunes

Ohio's total revenues from July through April proved to be $533 million ahead of estimates, according to a report by the state Office of Budget Management.

La. April Revenues Drop $169M From Last Year

By Michael Nunes

Louisiana general revenue collection in April trailed last year by $169 million, according to a report by the state Department of Revenue.

Idaho Revenues Through April Down $55M From Forecasts

By Michael Nunes

Idaho's general fund revenue collection from July through April trailed estimates by $55 million, the state Division of Financial Management reported.

Minn. Revenue Tops Forecast By $391M In April

By Michael Nunes

Minnesota general fund revenue in April exceeded an estimate by $391 million, the state Department of Management and Budget reported.

Ga. General Fund Receipts Through April Up $312M

By Michael Nunes

Georgia's total general fund receipts from July through April beat last year's total for the same period by $312 million, according to a report from the governor's office released Monday.

Ind. Revenue Through April Falls $51M Short Of Estimate

By Michael Nunes

Indiana's general fund revenue from July through April underperformed an estimate by $51 million, according to a report by the state Budget Agency.

Calif. Total Receipts Through April Beat Forecasts By $5.6B

By Michael Nunes

California's total receipts from July through April outpaced forecasts by $5.6 billion, according to a report by the State Controller's Office.

Mo. General Revenue Through April Down $88M

By Michael Nunes

Missouri's general fund revenue from July through April fell $88 million compared with the same period last fiscal year, according to the state Department of Revenue.

NH Revenues $42M Lower Than Projected

By Michael Nunes

New Hampshire's total revenue receipts from July through April were $42 million weaker than expected, according to a report by the state Department of Administrative Services.

Kansas Tax Collection Through April Up $20M From Estimates

By Michael Nunes

Kansas' tax collection from July through April beat estimates by nearly $20 million but lagged behind last year's total, according to a report by the state Division of the Budget.

Iowa General Fund Receipts Through April Down $529M

By Michael Nunes

Iowa's total receipts from July through April lagged $529 million behind collections from the same period in the previous year, according to a report by the state Department of Management.

Mass. Tax Revenue Through April Up $1.9B From Estimate

By Michael Nunes

Massachusetts general revenue collection from July through April exceeded budget forecasts by $1.9 billion, according to a report by the state Department of Revenue.

Vermont Revenue Grows By $177M Through March

By Michael Nunes

Vermont's total general fund revenue from July through March outpaced last fiscal year's collection for that period by $177 million, according to the state Agency of Administration.