There's no indication that Nostradamus or the Mayans predicted anything state tax wise for 2009 , but we can make predictions based on how the economy is going.
We all know that California is in deep fiscal trouble. Back in July, 2009, CA was unable to meet its bills for the second time this year and the state started issuing IOUs. In fact, as reported by CNNMoney.com at the time, some 28,750 IOUs worth $53.3 million were to have been issued initially, mainly for personal income tax refunds. CNN said this at the time: "The state's fiscal condition is disastrous. Officials passed a budget in February, but declining tax revenues have opened up a $26 billion deficit."
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California is in trouble, no doubt. But according to a study by the Pew Center on the States, so are 9 other states. It's interesting to look at what states are named and to consider what impact this will have on state taxes.
9 Other States in Trouble
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