Revenue dropped 6 percent as the pandemic triggered economic shutdowns across the country, according to data from 44 states compiled by the Urban Institute.
At least 39 states did not have enough money to pay all of their bills at the end of 2019, leaving them ill-prepared to shoulder the costs of the novel coronavirus pandemic, according to a new report.
Mandated by the COVID-19 pandemic, remote work can also bring serious tax consequences.
There’s little chance of agreement on a new federal coronavirus relief plan without a compromise on the roughly $1 trillion in aid to beleaguered state and local governments that Democrats demand and the White House opposes.
The economic stimulus plan released by Senate Republicans offers no new money for states and cities to cope with swelling budget shortfalls, leaving them to contend with a grave financial crisis that’s already forcing them to slash spending, furlough workers and delay projects as tax revenue disappears.
Massachusetts Society of CPAs president and CEO Amy Pitter is spearheading a group of 28 state society heads who have sent a letter to congressional leaders.
As far as the taxman is concerned, home is where the heart is.
Democrats in New York, the world’s financial capital, may finally have the right moment to resurrect the state tax on stock trades.
With about two weeks before the fiscal 2021 starts, the Florida Legislature still hasn't submitted a budget to Gov. Ron DeSantis.
The Volunteer State reported a nearly 16% decline in revenues in April, much of which was due to stay-at-home orders and delayed tax filings.