Quantcast

Maryland State Wire

Tuesday, April 30, 2024

Tax Revenue Analysis: Maryland collects $2.3 billion in sales and gross receipt tax during Q3 2023

Adobestock 221016184

Adobe Stock

Adobe Stock

Maryland collected $2.3 billion in sales and gross receipt taxes during the third quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Overall, Maryland's combined tax revenues reached $6.5 billion during the year, as of third quarter of 2023.

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.

Q3 2023 Maryland Tax Collections

Type of TaxAmount (millions)
License Taxes$232
Sales and Gross Receipts Taxes$2,328
Property Taxes$1,163
Income Taxes$2,642
Other Taxes$124

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