New York- COVID-19 Leads to Sharp Drop in Sales Tax Revenue

Among the budget pressures facing local governments is a sharp drop in sales tax revenue related to the coronavirus pandemic. New York State Comptroller Thomas DiNapoli said that sales tax revenue for local governments fell by more than 32% in Continue reading New York- COVID-19 Leads to Sharp Drop in Sales Tax Revenue

New Jersey- Crippling Effects of COVID-19: NJ Faces $10B Revenue Shortfall

The Department of the Treasury delivered a budget update to the Legislature Friday, providing a detailed revenue report that illustrates the devastating impact COVID-19 has had on New Jersey’s finances and laying out plans to close the looming gap for Continue reading New Jersey- Crippling Effects of COVID-19: NJ Faces $10B Revenue Shortfall

New York- New Sales Tax Data Reinforce ‘Troubling Findings’ of COVID-19 Economic Impact Report

The New York State Association of Counties announced that, this week, counties received their first installment of sales tax directly related to the first month where the statewide lock down on economic activity was in effect. In aggregate, the county Continue reading New York- New Sales Tax Data Reinforce ‘Troubling Findings’ of COVID-19 Economic Impact Report

Georgia – Richmond Hill estimates 20-25 % Dip in Sales Tax Due to COVID-19

Like many cities, Richmond Hill is feeling the effects of the COVID-19 pandemic. The city relies heavily on people coming in and out of the city not only that but they rely on money being spent within city limits. With Continue reading Georgia – Richmond Hill estimates 20-25 % Dip in Sales Tax Due to COVID-19

Texas- Sales, use tax allocations not yet impacted by COVID-19 pandemic

On April 8, Texas Comptroller Glenn Hegar announced he would send cities, counties, transit systems and special purpose taxing districts $701.8 million in local sales tax allocations for April. That’s .05% less than April 2019. These allocations are made in Continue reading Texas- Sales, use tax allocations not yet impacted by COVID-19 pandemic

Texas- Expected to lose ‘billions’ in sales tax revenue because of coronavirus pandemic

The full financial impact of the pandemic won’t be known until the summer, but Texas lawmakers are already bracing for the impact. State Comptroller Glenn Hegar said he expects to revise the state’s revenue estimates in July. With so many Continue reading Texas- Expected to lose ‘billions’ in sales tax revenue because of coronavirus pandemic

Virginia – New Tax laws In Effect As Of January 1, 2020

While Virginians are ringing in the new year, new tax laws are going into effect in the Commonwealth. As of January 1st, 2020, a number of new laws will change the way people in Virginia shop and do their taxes. Continue reading Virginia – New Tax laws In Effect As Of January 1, 2020

New Jersey – Gas Tax Increase

SALT Report 3869 – Gov. Chris Christie, who has long resisted raising any taxes, has battled with Democratic leaders since early summer over raising New Jersey’s gas tax, reaching an impasse that brought hundreds of highway and transit projects to Continue reading New Jersey – Gas Tax Increase

Michigan – Final Wording Decided for Proposed Sales Tax Bill

Salt Report 3572 – On February 26, 2015, the Michigan State Board of Canvassers approved the wording for a proposal to be voted on in May. The proposal would amend the state constitution to eliminate sales and use taxes on Continue reading Michigan – Final Wording Decided for Proposed Sales Tax Bill