Louisiana’s sales-tax revenue has dropped significantly since the last fiscal year.
“On a purely cash-basis, we are down 20.5 percent,” said Greg Albrecht, chief economist of the Louisiana Legislative Fiscal Office. “That’s a big drop.”
The state’s sales-tax revenue has been gradually declining since the ’09 fiscal year, where it dropped three percent from the ’08 fiscal year.
Albrecht said the decline is caused by a few factors, including unemployment.
“We are relatively better off than other states, but we’ve had a sharp run-up in unemployment rates over the course of a year,” he said.
—-Contact Sarah Eddington at [email protected]