State tax revenues

New taxes passed in the final days of the state's legislative session shift more of the tax burden to technology companies like Amazon and Microsoft.

Expect rates to rise and audits to increase as cash-strapped states and localities feel the crunch.

Boston relies heavily on property tax revenue, making it particularly vulnerable to the nationwide slump in office demand.

If the current trend continues, more than 96,000 residents making a combined $19.2 billion in adjusted gross income are set to leave the state annually by 2030.

Changes in rates and rules at every level require advisors to stay on their toes.

Cooling economic growth, tax cuts and weak stock-market performance are big contributors to the drop.

The Golden State is poised to fall well short of its budget forecasts as the recent stock market slump erodes the state's tax takings.

The first half of 2023 saw a flurry of state and local changes, with governments relying more on indirect taxes as borrowing becomes more expensive and the cost of providing programs increases.  

The differing fortunes highlight the growing divisions between the largest Democrat- and Republican-led states as they compete for businesses and people to relocate.

State treasuries are attempting to stack the deck in their favor in order to remain in the black.