WASHINGTON – Federal assistance accounted for 38.3 percent of Rhode Island’s general revenue in 2011, according to the Tax Foundation, which released a map on Monday depicting federal aid as part of general revenue for all 50 states. The percentage was 17th highest in the United States.
Comparatively, in Mississippi, which relied more heavily on federal assistance than any other state, saw federal assistance account for 49 percent of its total general revenue in 2011. Following Mississippi were Louisiana at 46.5 percent and Arizona at 45.7 percent.
At the other end of the spectrum, federal aid accounted for 24 percent of general revenue in Alaska, 25.9 percent in Delaware and 26 percent in North Dakota.
Among the New England states, Rhode Island’s reliance on federal assistance was behind only Maine, where federal aid accounted for 39.3 percent of the state’s general revenue in 2011, 13th highest in the U.S.
Massachusetts and Connecticut relied on federal assistance least of the New England states, at 31.5 percent and 27.9 percent, respectively.
Estate and Corporate Income Taxes are changing next year, and business owners and executives should know the details. The PBN Summit on November 6th will provide those details and more - including how much Obamacare's Employer Mandate could cost.
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