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Maryland State Wire

Monday, November 18, 2024

Maryland's miscellaneous tax revenues down 56.6 percent in Q3 2020

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Maryland collected $79 million in miscellaneous tax revenue during the third quarter of 2020, a 56.6 percent decrease from the previous quarter when $182 million was reported, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

Net sales reflect companies’ total revenue stream, minus the costs of discounts, allowances and product returns.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q3 Maryland Tax Collections
Type of TaxAmount (millions)
Property Taxes$562
Sales and Gross Receipts Taxes$1,868
Income Taxes$2,301
License Taxes$227
Other Taxes$79
Source: U.S. Census Bureau

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