Salient to Investors:
The National Conference of State Legislatures said half of all U.S. states have returned to peak tax-collection levels last seen before the recession five years ago, or will soon. In the preceding two recessions, it took 2 years or less for revenue to return to previous peaks.
Corporate income-tax revenue, which account for about 5 percent of state collections, is expected to exceed or match budget estimates in 32 states.
California is on track to record a surplus by 2015.
Read the full article at http://www.bloomberg.com/news/2012-12-18/states-return-to-peak-tax-revenue-collections-study-says.html.
Click here to receive free email alerts of articles when they are added to the Wisdom database.