Lucky 13 for State Revenues?

9.3%: Increase in state tax revenues in Q1 2013s

State tax revenues grew for the 13th consecutive quarter, up 9.3% in first quarter 2013, according to preliminary data compiled by The Rockefeller Institute. The increase was driven by a spike in personal income tax collections, which can be attributed to two factors. First, taxpayer actions prior to year-end to avoid higher income taxes ahead of federal tax policy changes. And second, a 35% increase in California tax receipts due to a recent change in tax rates. We continue to watch revenue trends, cognizant that recent strength came largely from one-time events rather than robust economic growth.

Source: BlackRock, June 2013; The Rockefeller Institute

http://www2.blackrock.com/

Prepared by BlackRock

Delivered courtesy Joel W. Grams, CRPC®, CLTC,

Registered Representative, Financial Planner, 212 Capital Group

38 Main Street Suite 360, Westlake Ohio 44145

(440) 835-4501 Ext 17, jgrams@212capitalgroup.com

The foregoing discussion is general in nature and not intended as specific advice. New England Financial nor its representatives are engaged in rendering tax, accounting or legal advice. A qualified professional should be consulted regarding the effect of such considerations on the matters covered in this publication.

For information on New England Financial insurance or other financial products and services, please contact

 Joel W. Grams, CRPC®, CLTC, Registered Representative, Financial Planner with /New England  Financial 38 Main Street Suite 360, Westlake, OH 44145, at (440) 835-4501 ext. 17, jgrams@212capitalgroup.com

www.212capitalgroup.com              

.

New England Financial is the registered mark for New England Life Insurance Company (NELICO) Boston, MA 02116. Securities and investment advisory services offered through New England Securities, Corp. (NES)(member FINRA/SIPC) a Registered Investment Advisor. NELICO and NES are MetLife companies.

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