States collected the highest amount of taxes ever in 2012 breaking a record set just before the recession hit. And Utah's tax revenue grew faster than most states, according to data collected by the U.S. Census Bureau.
States received a total of $794.6 billion in taxes in 2012, breaking the previous record of $779.7 billion in 2008, according to the 2012 Annual Survey of State Government Tax Collections released this week.
"The latest data show that state tax revenue is continuing to recover, albeit slowly, from the depth of the recession," said Donald Boyd, senior fellow at the Nelson A. Rockefeller Institute of Government at the State University of New York in Albany. People pay more income tax as they earn more, and more sales tax as they buy more.