State Tax Buden Still on the Rise

State Tax Buden Still on the Rise

May 7, 2007 Posted by J. Scott Moody - No Comments

Recently, the U.S. Census Bureau released their annual state tax collection report for state fiscal year 2006. Unfortunately for Mainers, the news is not good. Taken as a percent of personal income, the level of state taxation has climbed to an all-time high of 8.61 percent (excluding the spike in 1976 when the state attempted, but ultimately failed, to take-over the local property tax). There is little relief in sight. In fact, the governor’s budget calls for yet more tax hikes.


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