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Some things you may not know about Alabama tax collections:
1. In 2020, Alabama had the nation’s second-lowest state and local tax collections per capita.
2. Alabama has the lowest per capita property tax collections in the nation.
3. Alabama has among the highest sales tax rates in the U.S.
4. Alabama is now the only state that allows state individual and corporate income taxpayers to fully deduct federal income taxes paid. That provides a tax advantage for high earners.
5. Despite a recent change that provides some relief, Alabama begins taxing income at the lowest threshold in the U.S.
Read more in our 2022 edition of How Alabama Taxes Compare.
According to a recent analysis by The Pew Charitable Trusts, Alabama has the 20th strongest reserves, with $1.4 billion stashed away in Rainy Day Funds. Read PARCA's latest analysis for more details about Alabama's FY22 revenues.
Alabama tax collections grew at an eye-popping rate in the FY2022, with particularly strong growth in income tax collections (up 27% over 2021) and online sales (up more than 20%). The strong collections produced surpluses in both primary state accounts, the Education Trust Fund (ETF) and the General Fund (GF). Read more in PARCA's latest analysis.
We have a date!
"Voters will soon have the chance to redress issues—not through yet another amendment but by ratifying the Alabama Constitution of 2022." PARCA Executive Director Ryan Hankins serves as a guest columnist for Comeback Town's article on the Alabama Constitution vote tomorrow.
Encouraging signs in Alabama education. Alabama public schools see gains in 4th-grade reading and math scores at a time when other states saw steep post-pandemic losses.
On November 8th, you will be asked to vote on the proposed Alabama Constitution of 2022 and 10 statewide amendments. Read PARCA's full analysis explaining the impact of these proposals and the legislation that put them on the ballot.
Alabama's population became more diverse over the past decade as the number of non-Hispanic Whites declined and more Alabamians identified as being of a different race, a mixture of races, or of Hispanic descent. Read our full analysis on the decade of demographic change here.
PARCA ED Ryan Hankins will be moderating a discussion for the Birmingham Business Journal tomorrow, October 20, about the state of healthcare in the Birmingham region. More details below.
PARCA Director Ryan Hankins joined Jackson County residents this morning to discuss the state of education in that area.
Just 2 weeks until PARCA's Speaker Series event with James Carville at Red Mountain Theatre. VIP tickets are sold out but General Admission tickets are still available, which include a pre-show small plates reception, book signing, and post-show dessert reception. Reserve your spot today at parcalabama.org!
PARCA's Speaker Series with James Carville is just 3 weeks away, and VIP tickets are sold out! Reserve your spot today at parcalabama.org!
PARCA's Speaker Series with James Carville is just 3 weeks away, and VIP tickets are sold out! Reserve your spot today at parcalabama.org!
Congratulations to PARCA Senior Research Associate Thomas Spencer for being selected to the Leadership Birmingham Class of 2023!