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Sales Tax Decline in Late 2008 – Was the Worst in 50 Years

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Nelson A. Rockefeller Institute of Government: Sales Tax Decline in Late 2008 – Was the Worst in 50 Years – Early Data for 2009 Show Further, Sharp Drop in Tax Revenues for Most States, Donald J. Boyd and Lucy Dadayan

  • “The overall amount of taxes collected by the 50 states continued to fall during the fourth quarter of 2008, with state and local sales taxes — one of the largest components of state and local budgets — suffering the worst decline in half a century, according to a new Rockefeller Institute of Government report issued today. In the face of a weakening economy, the Institute’s regular quarterly report on tax revenues generated by the states shows an overall decline of 4 percent during the fourth quarter of 2008, compared with the same period a year earlier. Forty-one of the 50 states experienced declining revenues, with the Far West region suffering the most. Sales taxes, which are usually the largest or second-largest source of state tax revenue, suffered a 6.1 percent decline. Including those collected by local governments, the sales tax showed its weakest performance in 50 years.”
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