Oh, yah.
Q1 2009 State tax revenues took a (predictable) dive.
Individual income tax off 8.1% from 2008
General Sales/Use tax off 8.7%
Excise taxes off 5.9%
Net/net total off 7.9%.
But it's even more interesting. Remember, "Cash for Clunkers" sales-tax revenues fell into that reporting period (July-Sept.)
Nationally, 690,000 cars were sold under C4C. 1/50th of that would be 13,800 cars in Wisconsin. Let's assume that the average sales price was $25K.
That means that $17.25 million of the $680 million sales-tax revs was C4C.
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