NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) releases a research report looking at U.S. state and local sales tax collections and how they have performed during previous disease outbreaks. Recent examples of international disease outbreaks have had no discernible effect on aggregate retail sales and sales tax collections in the U.S. However, sales tax collections are susceptible to recessions, and states and municipalities experienced pronounced sales tax declines during the Great Recession. If the COVID-19 pandemic causes or contributes to a significant recession, which is possible, sales tax collections will be vulnerable.
To access the report, click here.
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KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider, and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.
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