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Maryland State Wire

Saturday, November 16, 2024

Maryland collects $2.7 billion million in sales and gross receipt tax revenue in Q4

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Maryland collected $2.7 billion in sales and gross receipt taxes during the fourth quarter of 2022, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

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.

Overall, Maryland collected $6.2 billion in combined tax revenues in the latest quarter.

4th Quarter Maryland Tax Collections

Type of TaxAmount (in millions)
Property Taxes$449
Sales and Gross Receipts Taxes$2,686
Income Taxes$2,711
License Taxes$170
Other Taxes$195

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