CHICAGO - April, typically a big revenue month for U.S. states that levy personal income taxes, was especially robust this year, making up for subpar collections in prior months, but analysts cautioned the tax surge underscores how state budgets face greater volatility from federal tax law changes and the stock market.
Taxes on wages and investment income are a top revenue source for states that collect them. April is the most important revenue month due to the tax filing deadline and the tendency of taxpayers who owe money to wait until the last minute to pay. It is not yet clear how much of a role wages, capital gains or other factors played in spurring the higher income tax collections - and whether that level of revenue would be ongoing.
Based on a $1.5 billion April revenue increase, fueled largely by a 35.5 percent spike in personal income taxes, Illinois Governor J.B. Pritzker raised the state's fiscal 2020 revenue forecast by $800 million and yanked a proposal to reduce pension contributions.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
California gains 46,000 jobs in April as unemployment stays near a record lowOnly two of California's sectors lost jobs: information — which includes tech companies and Hollywood studios — and mining and logging. California’s cost of living creates more poverty for the golden state Not enough This is a once in a life time unemployment rate. Most of the world is 2-3 times this. Doesn’t get much better.
Source: latimes - 🏆 11. / 82 Read more »
U.S. states cheer April income tax deluge but analysts urge cautionApril, typically a big revenue month for U.S. states that levy personal income t... What a poorly written article.
Source: Reuters - 🏆 2. / 97 Read more »
Republicans outraise Democrats in April fundraisingThe Republican National Committee raised $15.9 million last month — more than double the DNC maybe they should check to see what foreign countries are contributing to Trump! Yes we know the very worst people in our nation are Republicans and they have grown their wealth off the backs of Americans and civilian idiot Republicans-no surprise on the fund raising What happens if we take out the foreign money the Republicans got? Russia? Saudi Arabia? That's what I thought.
Source: politico - 🏆 381. / 59 Read more »
Existing-home sales down for the second straight month in AprilSales of previously-owned homes fell for the second month in a row, another sign of a struggling market, even as the Realtor lobby continues to expect...
Source: MarketWatch - 🏆 3. / 97 Read more »
Transgender woman who was attacked in April found dead on Dallas streetA transgender woman whose brutal assault in April was captured on video has been found dead on a Dallas street, police said. So this is national news because they’re transgender? How many other people were murdered today ? F 😭 Trump’s ‘Murica
Source: CNN - 🏆 4. / 95 Read more »
Ethiopian Airlines pushes back on criticism, says pilots followed emergency procedures before March crashAirline officials said FAA chief Daniel Elwell’s attempt this week to place some of the responsibility for a deadly March crash on their pilots’ actions was an attempt to “divert public attention” from problems with the flight control system on Boeing’s 737 Max jets. Yes....how awful it must have been..god bless them🌹🌹 I don’t trust Boeing here at all. Why aren’t the Boeing executives arrested for manslaughter ? Oh right. Campaign contributions.
Source: washingtonpost - 🏆 95. / 72 Read more »
U.S. Economy Lost Some Steam at Start of Second QuarterThe U.S. economy got off to a sluggish start in the second quarter, with both consumers and manufacturers pulling back in April amid trade tensions, a global slowdown and waning effects of the 2017 tax cuts. Yes and it's going to get worse Add the tariffs to the mix and watch the economy slump. In fact, nine of the past 10 recessions in history have begun with a Republican in the White House. And several Republican commanders in chief — Dwight Eisenhower, Richard Nixon, and George W. Bush — have presided over multiple economic contractions.
Source: WSJ - 🏆 98. / 63 Read more »
Latest News - MarketWatchReal-time updates from MarketWatch. Get the latest stock market, financial and business news.
Source: MarketWatch - 🏆 3. / 97 Read more »
Home sales fell in April despite a big drop in mortgage ratesSales of existing U.S. homes fell 0.4% in April compared with March to a seasonally adjusted annualized rate of 5.19 million units, according to the National Association of Realtors. Sales were 4.4% lower compared with April 2018. That was the 14th straight month of annual declines. Sales of existing U.S. homes fell 0.4% in April compared with March to a seasonally adjusted annualized rate of 5.19 million units, according to the National Association of Realtors. Who else calls up hot real estate ladies just to look at a house and try to make out with them? Thinkng your crypto is sucred on exchance, Only to wake up one morning and see that everything has disappeared somewhere. Do not make same mistake other made, get hardware wallet directly from Ledger
Source: CNBC - 🏆 12. / 72 Read more »
Euro zone April inflation confirmed at 1.7%, core rate revised upEuro zone prices rose by 1.7 percent in April, EU statistics agency Eurostat con...
Source: Reuters - 🏆 2. / 97 Read more »
US home construction climbed 5.7% in AprilU.S. home construction climbed 5.7% in April, led by an uptick in single-family homes. What was wrong with the houses already built? Cost too much? I'm sure this is why so many trees have been removed from a couple of thousand acres in 3 months. thats great isnt it? except most new homes are piss poor designed, the houses are not energy efficient or sound proof, the electric work is poorly put up and cant handle more than a stand up lamp, there are so many designs that could be used which would make living exceptional Huh. Wonder why? Who’s responsible for this Hmmmm. Maybe.......TRUMP?!!!! 😂 maga
Source: ABC - 🏆 471. / 51 Read more »