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Taxes - the smallest increase in years.

The net tax increases enacted in 1993 legislative sessions are expected to produce $3.8 billion in new state revenues in FY 1994, a 1.2 percent increase over the previous year's tax collections. This is the smallest percentage increase since 1988 and the smallest dollar increase since 1989. The $3.8 billion increase includes the extension of temporary taxes and the postponement of scheduled tax reductions. Without them, new tax increases total $1.1 billion, only 0.3 percent of last year's collections.

Where They Grew
Personal Income                 $1,252.8
Corporation Income                 370.1
Sales and use                    1,157.9
Motor fuel/motor vehicle excise    165.6
Cigarette and tobacco              467.9
Alcoholic beverage                  38.1
Waste and environmental             73.1
Health care related                191.0
Other                              115.1
Net Increase                    $3,831.6
COPYRIGHT 1993 National Conference of State Legislatures
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:State Legislatures
Article Type:Illustration
Date:Oct 1, 1993
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