Bloomberg by the Numbers: 6.1%

State government tax revenue rose to a record $846.2 billion in the fiscal year ended June 30, 2013, an increase of 6.1 percent from the $797.7 billion collected in fiscal year 2012.

It was the third straight year that state government tax revenue rose, according to the Census Bureau.

Forty-eight states increased their revenues in the fiscal year, led by North Dakota at 27.8 percent. An energy boom in North Dakota has increased its population, employment, income and tax receipts.

Increased tax revenue in North Dakota “was largely due to increases in severance tax revenues, which are taxes imposed on the extraction of natural resources,” the Census Bureau said in a summary report released yesterday.

State government tax collections rose 15.6 percent in California after Democratic Gov. Jerry Brown convinced voters in 2012 to “approve the highest statewide sales tax in the U.S., at 7.5 percent, and to boost levies on income starting at $250,000 — reaching 13.3 percent on those making $1 million or more, the most of any state,” Bloomberg’s Michael Marois reported in February 2013.

State tax revenues fell in Alaska and Wyoming, where tax receipts from natural resources declined.

Forty-six states have a fiscal year that runs from July 1, 2012 to June 30, 2013. The exceptions are Alabama, Michigan, New York and Texas.

Bloomberg’s Romy Varghese has more here on the Census Bureau’s data.


What do you think about this article? Comment below!