Ups and Downs of Revenue Recovery.

• Position: STATESTATS - Brief article

After the Great Recession, North Dakota led the country in reaching its previous highest level of tax revenues, doing so in mid-2013. By 2018, a majority of states had achieved that milestone. But it hasn't been one steady climb.

Wide swings in revenue are common, especially when it comes to severance taxes (fees paid for extracting natural resources) and corporate income taxes. Volatility is greatest in states that depend heavily on severance taxes. States relying on corporate income taxes tend to be less volatile because they have other revenue streams as well.

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