State Tax Revenues Continue to Grow.

• Position: Brief Article - Statistical Data Included

State tax revenue grew 6.1 percent in July-September of 1999 compared with the same period in, 1998. Although the personal income tax continues to exhibit strong growth (7.6 percent), it is no longer radically outpacing the sales tax (6.7 percent) as a tool of revenue growth. Estimated tax payments, which reflect what the owners of more volatile income sources such as investment income think they will owe at the end of the year, also have continued to grow. These payments, which have had double-digit growth over the last three years, however, grew by only 8 percent from April to September. Some states even experienced declines, which makes revenue forecasters in those states nervous...