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Second quarter 2011 (2011:2) tax revenues for state and local governments, as compared with second quarter 2010 (2010:2), were up 6.9 percent, marking the seventh consecutive quarter of positive year over year growth. Tax revenue for the quarter totaled $342.4 billion, as compared with the $344.5 billion reported for the second quarter of 2010.
Of the largest tax categories general sales tax, individual income tax, and corporate income tax showed positive growth over the same quarter 2010. Second quarter property tax declined for the fourth time since the first quarter of 2009.
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