Year-end tax collections that were $250 million, or 5.5 percent, higher than expectations, but not lawmakers must decide what do with the extra money.

Oklahoma's gross production taxes include taxes on oil, which is doing relatively well, and natural gas, which isn't.

Indiana State Auditor Tim Berry on Thursday touted Indiana's $2.155 billion reserve as the largest in the state history.

Budget Director Mary Lassiter cautioned in the revenue report that the $83.3 million does not represent a final figure for the state's surplus. She said books for the expenditure side of the General Fund ledger will be closed this month and "the determination of a budget surplus will be made at that time."

The state's Office of Legislative Services (OLS), a non-partisan agency, estimated earlier this year that New Jersey will face a $1.3 billion shortfall by the end of 2013.

Fiscal 2012 ended better than forecast, but analysts also cautioned that much of it was a one-time gain.

State government in Iowa has made great strides in reducing dependence on one-time funds for ongoing expenses, but it is still spending more than it takes in, state Auditor David Vaudt reported Monday.

The debate over taxes and the state's nearly $32 billion budget isn't likely to end soon.

Gov. Deval Patrick and top aides are hunkering down to study the final version of a proposed $32.5 billion state budget approved by lawmakers for the fiscal year that began Sunday.

The budget signed by Gov. Jerry Brown assumes that California will take in revenue from the federal estate tax and that voters will approve $8 billion in tax hikes in the fall.

It is well understood that the federal government must make spending cuts-these cuts will most likely drastically change the amount of federal dollars that are allocated to the states. Unfortunately for most states, dependence on federal funding has continually risen since 2008.

This fiscal report card on the governors examines state budget actions since 2010 using statistical data to grade the governors on their taxing and spending records-governors who have cut taxes and spending the most receive the highest grades, while those who have increased taxes and spending the most receive the lowest grades.

The Tax Foundation's 2013 edition of the State Business Tax Climate Index enables business leaders, government policymakers, and taxpayers to gauge how their states' tax systems compare. The absence of a major tax is a dominant factor in vaulting many of these ten states to the top of the rankings.

State finances are not transparent and often include hidden liabilities as well as rapidly growing responsibilities which are difficult to control.  While state revenues are gradually recovering from the drastic decline of the Great Recession, they are not growing sufficiently to keep pace with the spending required by Medicaid costs, pensions, and other responsibilities and obligations.  This has resulted in persistent and growing structural deficits in many states which threaten their fiscal sustainability.

States will face particularly intense budgetary challenges in education and health care in fiscal 2013, putting pressure on all budget areas - including corrections and infrastructure. As budgets face strain from slow revenue growth and expenditure pressures, states will likely confront tough budgetary choices in the next fiscal year.

This fifth edition of Rich States, Poor States provides 50 unique snapshots from our "laboratories of democracy" for you to evaluate. Study the rankings, read the evidence, and learn about the proven principles that lead to economic growth, job creation, and a higher standard of living for all Americans.

State Budget Solutions recommends that state legislators take action in 2013 to resolve the serious state financial crises by changing their focus from inputs to outcomes by redesigning budgets from the ground up based on priorities and performance.

This report analyzes the tax cap proposal in light of previous efforts to limit property taxes in New York and other states. Among the findings, New York's local property tax levels are exceptionally high by national standards and have grown by more than double the inflation rate over the past decade, justifying the governor's push to limit future growth.

Georgia should continue to push the reforms that have made this one of the best managed states in the nation, but innovation is the best opportunity for true reform. Tax, regulatory and tort reform will create the right conditions for innovation in the private sector while the state pursues innovation in the areas of criminal justice, education and heath care.

A guide to needed reforms in pensions, taxes and higher education, among other areas, with  two types of goals that are important when working towards limiting government: long-term policy objectives that show the end-game goals and short-term policies that steer public policy towards the long-term goals. This guide provides both.

Nevada seriously needs genuine, revenue-neutral fiscal reforms, and this report seeks to fill that vacuum. It analyzes the actual volatility of Nevada's current taxes - and the taxes lawmakers keep signaling they want. It covers important tax-related issues, such as achieving economic efficiency and tax equity, while reducing compliance costs as well as tax-induced distortions in economic behavior. It advocates implementing priority-based budgeting.

Article presenting the elimination of the Oregon state income tax and the end forced unionism as solutions to both budget problems and lack of business growth.

This report focuses on limiting the regulatory burden in the state and other types of recommendations to improve growth.

Proposals to tax Internet retail sales are all the rage as states continue to look for more ways to balance their budgets in the face of revenue shortfalls.

Bloated state spending levels and trillions of dollars in unfunded government employee pension liabilities pose huge financial obstacles to economic recovery in the 50 states today. This begs the million-or trillion-dollar question: Why are some states prospering while others are still struggling?

There has been an impression created in the press and embraced by many that the LBB report suggests that adoption of the bill CSHB1 by Texas would cost Texas 272,000 jobs in 2012 and 335,000 jobs in 2013. This answer, at least as interpreted by the press, is wrong and not based on sound economics. The passage of CSHB1 will not cause less jobs in Texas relative to any other option at hand.