Tuesday, September 22, 2020

State FY20 Taxes Update

On September 22, 2020 usgovernmentspending.com updated FY2020 state revenue with quarterly tax data released by the US Census Bureau on September 9, 2020.  Local tax data was updated by assuming that local taxes for 2020 changed by the same percent as state taxes of the same type.

$ billionFY2020
Estimate
FY2020
Actual
State Income Tax Revenue$487$487
Total State Revenue$2,099$2,088

State and local spending projections for FY2021 to FY2025 have been reestimated using the "Guesstimate" method.

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