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INTERACTIONS
The U.S. Census Bureau released their 2011 Annual Survey of State Government Tax Collections report today, showing state revenue from taxes increased across the board last year.
Overall, states brought in $763.7 billion in fiscal year 2011, an increase of $62.1 billion in tax collection.
“The nationwide increases in state government tax revenue are an indication of the stabilization of revenues for state governments,” said Lisa Blumerman, chief of the Governments Division. “These data help us understand the condition of our state governments and their fiscal ability to continue to provide public services.”
Each of the 50 states increased total tax revenue in 2011. The top increases included North Dakota, with 44.5% and Alaska, with 22.4%. California increased total tax revenue 17.4% in fiscal year 2011.
California led the country with the largest percent increase in motor fuels tax revenue, up 80.3% in 2011. Alaska (37.4%), North Dakota (13.1%) and Kentucky (10.6%) also had sizable increases.
Corporate net income tax revenue, individual income tax revenue and general sales tax revenue make up 70.7% of all state government tax collections nationwide.
Most of the tax revenue data reflect state fiscal years that ended June 30, 2011. The numbers reflect tax collections from state governments only, not including tax collection from local governments.
California Taxes & Ballot Measures
One ballot measure concerning state tax has qualified for California’s primary ballot on June 5th. Proposition 29 would impose an additional tax on cigarettes and tobacco products to fund cancer research and tobacco-related programs.
Two competing tax initiatives are currently seeking signatures to qualify for a November ballot, Gov. Jerry Brown’s recently combined “Millionaire’s Tax” and attorney Molly Munger’s “Our Children, Our Future Measure”.
The Sacramento Bee’s Capitol Alert reports new contributions this week show Munger has contributed another $2 million to the measure.
“Our Children, Our Future Measure” would increase taxes on a sliding scale across the majority of filers, with revenues going to school districts and education programs. The “Millionaire’s Tax” would raise income taxes on top percentages of earners and raise California’s state sales tax by a quarter-cent.
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