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Maryland State Wire

Wednesday, December 25, 2024

Maryland's combined tax revenues down 5.9% from Q4 to Q1 2022

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Brook E. Lierman, Maryland Comptroller | Comptroller of Maryland

Brook E. Lierman, Maryland Comptroller | Comptroller of Maryland

Combined tax revenues in Maryland decreased 5.9% in the first quarter of 2022 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

Overall, Maryland collected $7.1 billion in taxes during the first quarter of 2022, compared to $7.5 billion in the previous quarter.

The majority of the state’s tax revenue was collected through income taxes ($3.7 billion) and general sales and gross receipts taxes ($2.9 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.

Q1 Maryland Tax Collections
Type of TaxAmount (millions)
Income Taxes$3,738
Sales and Gross Receipts Taxes$2,902
Other Taxes$215
License Taxes$199
Property Taxes$5
Source: U.S. Census Bureau

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