First quarter 2010 (2010:1) tax revenues for state and local governments, as compared with first quarter 2009 (2009:1), were up 0.82 percent, marking the second consecutive quarter of positive growth. Tax revenue for the quarter totaled $299.1 billion compared with $296.7 billion reported for 2009:1.

Of the largest tax categories, general sales tax and individual income tax increased; while corporate income tax declined in the first quarter. Documentary and stock transfer taxes—taxes on the registration of mortgages and securities—increased for the first time in 15 consecutive quarters.