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Maryland State Wire

Friday, November 15, 2024

Q3 2022: Maryland's combined tax revenues down 56.7% since Q2 2022

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Brook E. Lierman, Maryland Comptroller | Comptroller of Maryland

Brook E. Lierman, Maryland Comptroller | Comptroller of Maryland

Maryland collected $5.6 billion in total tax revenues during the third quarter of 2022, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

These tax revenues stem from various sources, including property tax, sales and gross receipts tax, licenses, income tax, and miscellaneous tax.

The majority of the state’s tax revenue was collected through income taxes ($2.4 billion) and general sales and gross receipts taxes ($2.3 billion).

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 2022 Maryland Tax Collections
Type of TaxAmount (millions)
Income Taxes$2,422
Sales and Gross Receipts Taxes$2,329
Property Taxes$516
License Taxes$209
Other Taxes$161

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