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Prepayments, late payments, and sales tax revenue volatility in Texas cities

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  • Michael Overton
  • Julius A. Nukpezah
  • Orkhan Ismayilov

Abstract

Local governments with volatile revenues face a variety of managerial challenges. This study examines the impact of prepayments and late payments on sales tax revenue volatility (STRV). Prepayments and late payments have the potential of disrupting the predictability of sales tax revenue. Using a sample of 1,075 cities in Texas over a 15-year period (1998 to 2013), the study finds that late payments impact STRV while early payments do not.

Suggested Citation

  • Michael Overton & Julius A. Nukpezah & Orkhan Ismayilov, 2017. "Prepayments, late payments, and sales tax revenue volatility in Texas cities," Public Money & Management, Taylor & Francis Journals, vol. 37(7), pages 469-476, November.
    • Handle: RePEc:taf:pubmmg:v:37:y:2017:i:7:p:469-476
    DOI: 10.1080/09540962.2017.1372099
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    References listed on IDEAS

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    1. Rebecca Hendrick & Jared Crawford, 2014. "Municipal Fiscal Policy Space and Fiscal Structure: Tools for Managing Spending Volatility," Public Budgeting & Finance, Wiley Blackwell, vol. 34(3), pages 24-50, September.
    2. Jeffrey M Wooldridge, 2010. "Econometric Analysis of Cross Section and Panel Data," MIT Press Books, The MIT Press, edition 2, volume 1, number 0262232588, December.
    3. Andrews, Donald W K, 1991. "Heteroskedasticity and Autocorrelation Consistent Covariance Matrix Estimation," Econometrica, Econometric Society, vol. 59(3), pages 817-858, May.
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    1. Sadik-Zada, Elkhan Richard & Gatto, Andrea, "undated". "Determinants of the Public Debt and the Role of the Natural Resources: a Cross-Country Analysis," ETA: Economic Theory and Applications 285026, Fondazione Eni Enrico Mattei (FEEM).

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