State Budget Tracking Summaries Updated February 11, 2021
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State Budget Tracking Summaries Updated February 11, 2021 Sellers Dorsey | [email protected] | www.SellersDorsey.com 1635 Market St. #301, Philadelphia, PA 19103 Table of Contents Alabama................................................................................................................................................... 3 Alaska ...................................................................................................................................................... 3 Arizona .................................................................................................................................................... 4 Arkansas .................................................................................................................................................. 7 California ................................................................................................................................................. 7 Colorado ................................................................................................................................................ 10 Connecticut ............................................................................................................................................ 11 Delaware ............................................................................................................................................... 13 District of Columbia ................................................................................................................................ 14 Florida ................................................................................................................................................... 14 Georgia .................................................................................................................................................. 15 Hawaii ................................................................................................................................................... 17 Idaho ..................................................................................................................................................... 19 Illinois .................................................................................................................................................... 20 Indiana................................................................................................................................................... 20 Iowa ...................................................................................................................................................... 21 Kansas ................................................................................................................................................... 23 Kentucky ................................................................................................................................................ 23 Louisiana ................................................................................................................................................ 24 Maine .................................................................................................................................................... 25 Maryland ............................................................................................................................................... 26 Massachusetts ........................................................................................................................................ 27 Michigan ................................................................................................................................................ 28 Minnesota .............................................................................................................................................. 28 Mississippi.............................................................................................................................................. 29 Missouri ................................................................................................................................................. 29 Montana ................................................................................................................................................ 30 Nebraska ................................................................................................................................................ 31 Nevada .................................................................................................................................................. 32 New Hampshire ...................................................................................................................................... 34 New Jersey ............................................................................................................................................. 35 New Mexico ........................................................................................................................................... 37 New York ............................................................................................................................................... 38 North Carolina ........................................................................................................................................ 40 North Dakota ......................................................................................................................................... 41 Ohio ...................................................................................................................................................... 42 Oklahoma .............................................................................................................................................. 43 Oregon .................................................................................................................................................. 44 Pennsylvania .......................................................................................................................................... 46 Puerto Rico ............................................................................................................................................ 47 Rhode Island .......................................................................................................................................... 47 South Carolina ........................................................................................................................................ 48 South Dakota.......................................................................................................................................... 49 Tennessee .............................................................................................................................................. 50 Texas ..................................................................................................................................................... 50 Utah ...................................................................................................................................................... 52 Vermont ................................................................................................................................................ 53 Virginia .................................................................................................................................................. 54 Washington ............................................................................................................................................ 55 West Virginia .......................................................................................................................................... 56 Wisconsin .............................................................................................................................................. 57 Wyoming ............................................................................................................................................... 57 Page 2 Alabama • The legislative session started February 2, 2021. Governor Ivey will unveil her budget proposals for both the Educations Trust Fund budget and the state General Fund budget (Alabama Political Reporter). • The Alabama Department of Revenue issued guidance on tax relief measures for taxpayers and employers. This guidance comes shortly after Governor Ivey announced an emergency proclamation that made changes to tax return forms in the State so that residents and businesses will forgo paying state taxes on CARES Act benefits (WBRC). • Annual renewal of tax licenses for businesses in Alabama are now required. This new rule requires businesses to obtain a license from the Alabama Department of Revenue to ensure businesses are properly registered with the Department. If a business does not renew its license, the license will expire, and the account will no longer be active. Every license will expire December 31, 2020. The renewal process opens November 1, 2020 (WBRC). • Alabama’s gross tax revenue was up 5.3% at the end of August with one month remaining in the pandemic-affected fiscal year (WBRC). • Despite slower revenues, the State does not intend to propose cuts as of August 2020. Net income tax receipts totaled $459 million, up from