Friday, January 1, 2010
3rd Quarter State Sales & Gross Receipts Taxes
Well, the US Census Bureau released the data for state tax income, and I broke out the sales and gross receipts taxes to see how that showed aggregate economic activity performing.
On a year over year basis for the 3rd Qtr, state sales and gross receipts taxes were down -6.7%, and on a rolling 4 Qtr basis the year over year amount is down -7.6%.
While the 3rd Qtr is down from the 2nd Qtr, this is typically the case and the amount appears to be in the midrange of the -3% to -7% seen at -4.9%.
(If I get the chance I will update later with some additional data going back to 1988 - have to help my lovely wife pack for the trip home).
Quarterly Summary of State and Local Government Tax Revenue