By 1929, corporate fees and taxes provided 42.5 percent of state income.
They might even save on their state incomes taxes, which have marriage penalties, too.
Also, those states do not levy state income and estate taxes.
It is one of only two states, besides Alaska, that do not have a state income or sales tax.
The election is effective for Federal and most state income tax purposes.
"So I can say a very considerable part of our state income is due to this."
Anticipated state income from internal sources showed an increase of 47.5 per cent.
The proposed budget is based on forecasts of strong economic growth, with total state income rising by 4 percent.
By comparison, the state income and sales tax revenues for California in 2004 were about $72 billion.
In 1506, about 65% of the state income was produced on overseas activity.
