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Maryland State Wire

Monday, November 18, 2024

Maryland's miscellaneous tax revenues up 168.4 percent in Q4 2020

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Maryland collected $212 million in miscellaneous tax revenue during the fourth quarter of 2020, a 168.4 percent increase over the previous quarter when $79 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.

Q4 Maryland Tax Collections
Type of TaxAmount (millions)
Property Taxes$141
Sales and Gross Receipts Taxes$2,503
Income Taxes$2,796
License Taxes$215
Other Taxes$212
Source: U.S. Census Bureau

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