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Tax day likely more bust than boom for U.S. states

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posted on Apr, 15 2010 @ 01:26 AM
Yahoo Article

CHICAGO (Reuters) – U.S. states are unlikely to get a big burst of money from income taxpayers at Thursday's tax deadline to help ease their yawning budget gaps.

Collections from wage earners are expected to remain dismal as revenue lags low fiscal 2009 totals and in some cases just meets even-lower estimates for fiscal 2010.

State revenue and tax departments won't have a good indication of April collections until the tax deadline has passed. Most taxpayers owing money wait until the last minute to pay liabilities. In Arizona, for example, about 80 percent of final income tax payments come after the tax deadline.

Looks like we just have to wait and see how much money our states get after tax day. I wonder if there will be more cuts in funding for everything, like roads, police, ect...

With everything going on for the past while, Id think more people than usual are going to skip paying taxes. Hopefully we dont loose too much stuff if the states get lower on money.


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