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State and local tax collections rise.

State and local tax collections in the year ended June 1991 rose to $513.6 billion, a gain of 4.1% from the year-earlier period, according to a Commerce Clearing House report based on U.S. Census Bureau data. Nationwide state tax collections were up 3.4%, totaling $309.3 billion, while local taxes were up 5.1% to $204.3 billion.

The highest percentage increase in state and local taxes was on tobacco products, which rose 6.8% to $6.1 billion. The next-highest increase was on property, the greatest revenue source for state and local governments. Property taxes rose 6.7% to $162.2 billion.

Individual income tax collections increased 3.5% to $107.3 billion, but corporate net income tax collections declined 3.1% to $22.7 billion, largely as a result of the recession. General sales and gross receipts taxes were 1.8% higher, at $123.2 billion.

Tax collection increases for the year were steepest in Nebraska, up 16.4%; Oklahoma, up 13.6%; New Jersey, up 13.1%; and Hawaii, up 12.2%. Only three states posted tax revenue declines during the period: Michigan, -5.%; Maine, -1.8%; and Maryland, -.5%.
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Author:Wagenbrenner, Anne
Publication:Journal of Accountancy
Article Type:Brief Article
Date:Jun 1, 1992
Words:197
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