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State Revenues Decline for First Time Since the Great Recession, With the Worst Still to Come

State Revenues Decline for First Time Since the Great Recession, With the Worst Still to Come The majority of states have closed out fiscal 2020 and, as expected, most states experienced a decline in general fund revenues, both compared to prior-year (fiscal 2019) collections and to pre...

Blog Entry
State Fiscal Outlook: Pre- & Post-COVID-19

Download PDF State Fiscal Outlook: Pre- & Post-COVID-19 Today, NASBO released its Spring 2020 Fiscal Survey of States . In a typical year, this report reflects the fiscal health of state governments based on governors’ budget proposals for the upcoming fiscal year, and these...

Blog Entry
April Tax Collections Plummet from Tax Deadline Shifts and Fallout of COVID-19

As expected, April tax collections fell sharply with many states experiencing year-over-year declines of at least 50 percent, as highlighted in the below state-by-state press articles. The precipitous drops were brought on by a combination of states shifting their tax deadlines to July 15, and...

Blog Entry
State Budget Basics During an Economic Downturn

Download PDF The COVID-19 pandemic is placing significant stress on state budgets while also drastically reducing revenue sources that fund critical services to citizens. This blog outlines where states get their money from, what they spend this money on and the decisions that must be made...

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April State Income Tax Collections have Mostly Recovered from Declines in December and January

Updated June 4, 2019 States are reporting higher than expected income tax revenues in the month of April . The significantly higher April income tax revenues, for the most part, are making up for the substantially lower income tax revenues collected in December and January. Through November,...