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Home / Coming to a State Near You: Higher TaxesComing to a State Near You: Higher Taxes
Last Updated on Thursday, 2 July 2009 01:05 Written by rslcpol Thursday, 2 July 2009 01:05
From the Christian Science Monitor:
More than half of US states are responding to budget challenges with an answer that’s often unpopular with their residents: tax hikes.
In some cases, the levies are modest. Still, six states are increasing personal income taxes, 11 are raising sales taxes, and eight are boosting rates paid by businesses.
The wide geographic scope of the tax increases is an indicator of how much pressure an economic slump has put on state finances. And many of the states are ones that avoided significant tax boosts earlier this decade, the last time the United States was in recession. These include Florida, Minnesota, Wisconsin, Colorado, and Idaho.