Study: States Flunk Tax Math During Downturns

Wednesday, 02 Mar 2011 12:51 PM

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
A new study shows that states actually become worse at forecasting their revenues when their economies are doing poorly, the Wall Street Journal reports. In 2009, for example, the 50 states jointly anticipated $49 billion more than they wound up collecting, according to the report released Tuesday by the Pew Center on the States and the Nelson A. Rockefeller Institute of Government.

“During downturns — when it matters more than ever for states to get it right — more states are not only getting it wrong, but making larger errors,” the report concluded.

Arizona, New Hampshire, Oregon, and North Carolina made the least accurate revenue calculations in 2009, with overestimates exceeding 25 percent. The median error for the 50 states was 10.2 percent.

The study found that, conversely, states' estimates run far closer to reality in good times and that, if anything, they understate revenues by a small margin.

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Boston Marathon Looks to Shake Shadow of Deadly 2013 Bombing

Sunday, 20 Apr 2014 07:23 AM

Runners, from the world's elite racers to first-timers, will step to the Boston Marathon starting line on Monday for the . . .

NASA: Engineer Vital to Moon Landing Success Dies

Sunday, 20 Apr 2014 06:10 AM

SCARBOROUGH, Maine - John C. Houbolt, an engineer whose contributions to the U.S. space program were vital to NASA's suc . . .

Man Detained after Threats at LA Times Building

Saturday, 19 Apr 2014 22:03 PM

A man suspected of making threatening statements about a shooting and forcing the lockdown of the Los Angeles Times buil . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved