Tax revenues were down during the third quarter of 2009 in 44 states, according to a new report from the Nelson A. Rockefeller Institute of Government.
"States collected 10.7 percent less in tax revenue in the July-September period than during the same three months a year ago, according to the report, which predicted that tax collections in the final three months of the year 'will continue to be weak.'
...All three major sources of states' tax revenue - sales, personal income and corporate income taxes - shrank in the third quarter. Corporate income taxes were most volatile, dropping 19.4 percent, followed by the personal income (11.4-percent drop) and sales taxes (8.2-percent drop)."
FULL STORY: Tax revenue down in at least 44 states
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