WASHINGTON — State tax revenues rose in the third quarter, the eleventh straight quarter of growth following five quarters of declines stemming from the Great Recession, the Rockefeller Institute reported Thursday.
The Institute said its compilation of preliminary data from 47 states showed that state tax collections rose by 2.1% in nominal terms in the third quarter, compared the same quarter last year.
Among the 47 states, 38 reported gains while nine reported declines in total tax revenue collections for the quarter.
Personal income taxes grew by 4.5%. Sales tax growth was “relatively weak” at 3.1%, and corporate income taxes fell by 0.5%, the Institute said.
Delaware and Colorado reported the largest gains in overall tax collections, at 11.7% and 10.3% respectively, while five states indicated double-digit growth in personal income taxes and three states in sales tax revenues.
While there is continued improvement in tax revenue collections, “the pace of growth has been much slower in the recent quarters compared to historic averages,” the Institute said.