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June 22, 2009
States Facing Declining Personal Income Tax Receipts
As state governments race to prepare new budgets by July 1st, Stateline.org staff writer Pamela M. Prah surveys findings from recent reports about declining personal income tax revenue at the state level. Public law libraries dependent on state funding take note. Here's a couple of snips from Prah's article:
Personal income taxes paid to the states plummeted 26 percent, or $28.8 billion, in the first four months of 2009, compared with the same time period last year.
The income tax collections filed in April were $18.2 billion lower than the previous April.
Overall personal income fell in 37 states in the first quarter of 2009.
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