Regional Economics Information

Email
Print Friendly
A A A

Data & Analysis

State Government Finances - May 2008

Data Sources on the Web
Alabama Department of Revenue
Florida Department of Revenue
Georgia Department of Revenue
Louisiana Department of Revenue
Mississippi State Tax Commission
Tennessee Department of Revenue
 
Excel logoData
Total Tax Revenues—Alabama
Chart of Total Tax Revenue - Alabama
Enlarge
Source: Alabama Department of Revenue

Excel logoData
Total Tax Revenues—Florida
Chart of Total Tax Revenue - Florida
Enlarge
Source: Florida Department of Revenue

Excel logoData
Total Tax Revenues—Georgia
Chart of Total Tax Revenue - Georgia
Enlarge
Source: Georgia Department of Revenue

Excel logoData
Total Tax Revenues—Louisiana
Chart of Total Tax Revenue - Louisiana
Enlarge
Source: Louisiana Department of Revenue

Excel logoData
Total Tax Revenues—Mississippi
Chart of Total Tax Revenue - Mississippi
Enlarge
Source: Mississippi State Tax Commission

Excel logoData
Total Tax Revenues—Tennessee
Chart of Total Tax Revenue - Tennessee
Enlarge
Source: Tennessee Department of Revenue
Data and Analysis

State Government Finances

May 2008

Alabama
Florida
Georgia
Louisiana
Mississippi
Tennessee

Alabama
The state's tax revenues for April increased 9.6 percent (on a three-month moving average basis) from a year earlier led by higher individual and property tax revenues that offset declines in corporate and sales taxes. Still, according to the National Conference of State Legislators, Alabama's budget shortfall this year may reach 12.6 percent. Weaker revenue growth over the past year has forced state legislators to cut spending programs. Overall funding for state colleges was cut substantially, and officials are reviewing funding for Medicaid and state corrections.

Florida
According to data from the Florida Department of Revenue, total tax collections in Florida during April remained weak. Total collections declined 10.8 percent (on a three-month moving average basis) from a year earlier.

Georgia
Total revenue collections in Georgia rebounded strongly in April, increasing 12.7 percent (on a three-month moving average basis) from a year earlier. Gov. Perdue noted in a May 9 press release, "The dramatic rise in revenues this month is primarily the result of process improvements made by the Department of Revenue, including hiring an outside vendor to help process hundreds of thousands of additional payments when compared to this time last year." Revenue growth is expected to slow in coming months and balance out the April spike.

Louisiana
Total tax collections in Louisiana in January increased 3.2 percent (on a three-month moving average basis) from a year earlier.

Mississippi
Total tax revenue in Mississippi in April increased 1.9 percent year over year (on a three-month moving average basis). Casino revenue in the state fell 12.8 percent in April from a year earlier to $210 million, down $50 million from March and down $31 million from a year earlier.

Tennessee
Total tax collections in Tennessee declined 1.1 percent in April (on a three-month moving average basis) from a year earlier. This drop is the second and the largest year-over-year drop in tax revenues since 2002. In May the state decreased the $28 billion budget proposed earlier this year by $468 million. Budget cuts include a 5 percent reduction in state employees through a voluntary buyout package.


Archives