State Tax Collections by State and Type of Tax
Ever wonder what the breakdown is of your state’s tax collections? There’s a big state-to-state difference.
Palm Coast, FL – June 28, 2011 – The U.S. Census Bureau released the first quarter 2011 tax collections by state and type of tax. There is a big state-to-state difference of where the money comes from. Florida collected $8.2 billion. Over half of that ($4.7 billion) came from general sales and gross receipts tax. Florida has no personal income tax but it collected $103 million from corporations in general and $346 million in corporation net income taxes. Florida raised approximately $435 per resident during the quarter.
Illinois, with similar revenue ($8.1 billion) raised only $1.8 billion from general sales and gross receipts taxes but collected $3.5 billion from its residents via personal income tax. Illinois raised approximately $627 per resident.
New York and California raised $1,014 per resident and $727 per resident respectively.
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