Today we improved our US state tax revenues section by adding a new variable: tax revenue per capita. Check out the map below for an example showing tax revenue per capita for tobacco products:
New Hampshire collects the most taxes on a per capita basis than any other state. Now we will have to look for data showing if high taxes on tobacco products result in lower numbers of smokers.
According to Stateline.org, sales tax collections have been on the rise in the last six months for some states, Oklahoma and West Virginia among others. They are expected to grow even more during the months of November and December 2010. As can be seen in the graph below, sales tax collections have been on the rise except for the period between the fourth quarter 2008 and the first quarter 2010.
The second quarter 2010 shows an increase in sales tax collection of 9.4% with respect to the previous quarter.
Sales tax revenue is the second largest source of tax collections after individual income tax revenue for the state of Oklahoma as can be seen in the chart below.
Continuing with our series of posts about our new state tax revenue section, I highlight the case of sales tax revenue for North Carolina. Unlike many other states, sales tax revenue has increased significantly despite the economic downturn, as shown in the graph below.
In fact, sales tax revenue hit a high of $1.5 Billion in Q2 2010. It should be noted that the NC sales tax rate was increased temporarily by an additional 1% as of September 2009. The increase will expire on July 1, 2011.
Our new state tax revenue section makes it easy to view the effects of the current economic downturn on state tax revenues. Take for example the case of California. As shown in the graph below, revenue from sales taxes hit a peak of $9.5 Billion in Q4 2007 and a recent low of $7.3 Billion in Q1 2009. The amount collected for Q2 2010 (which is the most recent amount reported to the US Census Bureau) was $9.1 Billion, which some would argue is clear proof that the economy is recovering, while others say that it is just a temporary increase due to temporary government stimulus.
Source: US Census Bureau
We are happy to release the beta version of a new section: tax revenues by state and tax type since 1994. Take a look and let us know if you find any issues.
Federal law (5 U.S.C. 6103) establishes the following public holidays for Federal employees. Please note that most Federal employees work on a Monday through Friday schedule. For these employees, when a holiday falls on a non-workday — Saturday or Sunday — the holiday usually is observed on Monday (if the holiday falls on Sunday) or Friday (if the holiday falls on Saturday).
| Friday, December 31, 2010* | New Year’s Day |
| Monday, January 17 | Birthday of Martin Luther King, Jr. |
| Monday, February 21** | Washington’s Birthday |
| Monday, May 30 | Memorial Day |
| Monday, July 4 | Independence Day |
| Monday, September 5 | Labor Day |
| Monday, October 10 | Columbus Day |
| Friday, November 11 | Veterans Day |
| Thursday, November 24 | Thanksgiving Day |
| Monday, December 26*** | Christmas Day |
* January 1, 2011 (the legal public holiday for New Year’s Day), falls on a Saturday. For most Federal employees, Friday, December 31, 2010, will be treated as a holiday for pay and leave purposes. (See 5 U.S.C. 6103(b).)
** This holiday is designated as "Washington’s Birthday" in section 6103(a) of title 5 of the United States Code, which is the law that specifies holidays for Federal employees. Though other institutions such as state and local governments and private businesses may use other names, it is our policy to always refer to holidays by the names designated in the law.
*** December 25, 2011 (the legal public holiday for Christmas Day), falls on a Sunday. For most Federal employees, Monday, December 26, will be treated as a holiday for pay and leave purposes. (See section 3(a) of Executive order 11582, February 11, 1971.)
Source: United States Office of Personnel Management
The table below shows the list of public federal holidays for 2010. Note that Friday December 31, 2010 is also a holiday since January 1, 2011 falls on a Saturday.
| Friday, January 1 | New Year’s Day |
| Monday, January 18 | Birthday of Martin Luther King, Jr. |
| Monday, February 15 | Washington’s Birthday |
| Monday, May 31 | Memorial Day |
| Monday, July 5 | Independence Day |
| Monday, September 6 | Labor Day |
| Monday, October 11 | Columbus Day |
| Thursday, November 11 | Veterans Day |
| Thursday, November 25 | Thanksgiving Day |
| Friday, December 24 | Christmas Day |
The source for the list of public holidays is the United States Office of Personnel Management
The following table shows the official United States federal holidays for 2009.
| Thursday, January 1 | New Year’s Day |
| Monday, January 19 | Birthday of Martin Luther King, Jr. |
| Monday, February 16 | Washington’s Birthday |
| Monday, May 25 | Memorial Day |
| Friday, July 3 | Independence Day |
| Monday, September 7 | Labor Day |
| Monday, October 12 | Columbus Day |
| Wednesday, November 11 | Veterans Day |
| Thursday, November 26 | Thanksgiving Day |
| Friday, December 25 | Christmas Day |
The source for the list of public holidays is the United States Office of Personnel Management
The following graph shows the exchange rate of the Brazilian Real with respect to the US Dollar. The Real appreciated continuously since March 2003, depreciating temporarily between September 2008 and February 2009.
Source: Banco Central do Brasil – Time Series Management System
See also: Historical exchange rates for multiple currencies
El gráfico a continuación muestra el tipo de cambio del real brasilero con respecto al dólar norteamericano. El mismo ha venido apreciándose continuamente desde marzo de 2003, depreciándose temporalmente durante el periodo septiembre 2008 – febrero 2009.
Fuente: Banco Central do Brasil – Sistema de Manejo de Series Históricas
Ver también: Series históricas para otras monedas