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State Tax Collections Plummet – Can Audit Activity Increases be Far Behind?

Thursday, June 25th, 2009 by Tax 2.0

This report from the Nelson A. Rockefeller Institute of Government examines the sharpest decline in sales and income tax collection revenue in over fifty years.

Truly, only time will tell the true course of action states will take to recoup this short-fall, but a crystal ball isn’t required to see an increase in audits as one possible solution.

Are you already feeling the state pinch? Sound off in the comments section.

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