Third quarter 2011 (2011:3) tax revenues for state and local governments, as compared with third quarter 2010 (2010:3), were up 4.1 percent, marking the eighth consecutive quarter of positive year over year growth. Tax revenue for the quarter totaled $292.0 billion, as compared with the $280.5 billion reported for the third quarter of 2010.

Of the largest tax categories, property, general sales tax and individual income tax showed positive growth over the same quarter in 2010. Corporate income tax declined for the first quarterly decline since the third quarter of 2010.