Quantcast

Maryland State Wire

Wednesday, December 25, 2024

Maryland collects $2.9 billion in sales and gross receipt tax revenue in Q1 2022

Adobestock 304736255

Adobe Stock

Adobe Stock

Maryland collected $2.9 billion in sales and gross receipt taxes during the first quarter of 2022, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Overall, Maryland collected $7.1 billion in combined tax revenues in the latest quarter.

Sales and gross receipt taxes include taxes on licenses, alcohol, amusements, insurance, fuel, parimutuels, public utilities and tobacco products.

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.

1st Quarter Maryland Tax Collections

Type of TaxAmount (in millions)
License Taxes$199
Sales and Gross Receipts Taxes$2,902
Property Taxes$5
Income Taxes$3,738
Other Taxes$215

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS