Academic

UNEXPECTEDLY! States? Tax Collections Falter, Widening Budget Gaps. ?April tax collections are fal?

By Glenn Reynolds

UNEXPECTEDLY! States’ Tax Collections Falter, Widening Budget Gaps. “April tax collections are falling short of forecasts and even dropping below last year’s depressed levels in a number of states, complicating budget troubles and prompting some governors to dip into rainy-day funds. . . . April is the biggest revenue month for many states because it is when they collect a large portion of income taxes. The month’s collections came up short of expectations in California by 26.4%, or $3.6 billion; in Pennsylvania by 11.8%, or $390.1 million; and in Kansas by 10.2%, or $65.3 million. More states will report in the next few weeks.”

Full post as published by Instapundit.com on May 17, 2010 (boomark / email).