Tax Policy Center Analyzes Third-Quarter 2020 State, Local Tax Revenues

The Urban-Brookings Tax Policy Center published its state tax and economic review for the third quarter of 2020, finding that state and local tax revenues from personal income, corporate income, sales, and property taxes were 17.1 percent higher than the same period in 2019; the growth is attributable to the extension of many state income tax deadlines from April 15 to July 15 because of COVID-19, as well as the receipt of a share of 2019 income tax revenue in the third quarter of last year rather than the second quarter.