Tax Collections on the Rise in the USA
June 6, 2013 Taxation in USA
WASHINGTON D.C. – Collections of state-level taxes in the USA are undergoing a strong recovery, with the overall tax take up by 9.3 percent in the first quarter of this year.
Collections of state taxes in the USA have continued to grow for the third year in a row, according the Nelson A. Rockefeller Institute of Government in new research published on June 5th.
According to the results of the research, over the course of the January–March quarter, the collections of state-level taxes were 9.3 percent higher than during the same period in 2012.
The overall increase in tax collections was comprised of a 17.6 percent rise in revenues from personal income taxes, and a 3.5 percent increase in corporate income taxes, along with approximately 6.0 percent growth in the collection of sales taxes.
Among the states of the USA, North Dakota experienced the largest increase in tax collections, with growth reaching 74.6 percent, while Alaska underwent the most severe drop, with tax collections decreasing by 43.8 percent, over the course of January–March 2013.
Photo by Tracy O