States’ tax intake hits all-time high

Monday is, of course, Tax Day.

That is the day when we all find out just what the cost of democracy comes to for our respective households. Those expecting refunds from what they paid in for 2012 very likely have already filed and, in most cases, received them. Those who owe the government … well, the check’ll be in the mail Monday.

While the federal government — and with good reason, given its horrendously complicated tax code — catches most of the grief on Tax Day, it’s interesting to note that the U.S. Census Bureau is reporting that states reached an all-time high for tax collections of all types in Fiscal Year 2012.

Combined, the 50 states pulled in $794.6 billion in 2012, up $34.4 billion from FY 2011 and topping the previous high-water mark of $779.7 billion in FY 2008. Of that FY 2012 number, $280.4 billion — about 35 percent — was generated by indvividual income taxes.

California, as you might expect, led the collections with $112.4 billion, while South Dakota came in last at $1.52 billion. Georgia ranked No. 16 with tax collections of $16.6 billion, with nearly half — $8.1 billion, or 48.8 percent — coming from individual income taxes.

Why do individuals in Georgia carry a much higher percentage of the tax burden than the national average? Georgia ranks in a dead heat with California on the percentage of state tax revenues generated by individual income taxes.

That’s something legislators should look at this coming January.

— The Albany Herald Editorial Board