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Maryland State Wire

Friday, November 22, 2024

Maryland's miscellaneous tax revenues down 53.7% in Q3 2023

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Brook E. Lierman, Maryland Comptroller | Comptroller of Maryland

Brook E. Lierman, Maryland Comptroller | Comptroller of Maryland

Maryland collected $124 million in miscellaneous tax revenue during the third quarter of 2023, a 53.7% decrease from the previous quarter, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Miscellaneous tax revenue reached $268 million in the previous quarter.

Net sales reflect companies' total revenue stream, minus the costs of discounts, allowances and product returns.

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)
Property Taxes$1,163
Sales and Gross Receipts Taxes$2,328
Income Taxes$2,642
License Taxes$232
Miscellaneous Taxes$124

Source: U.S. Census Bureau

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