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Maryland State Wire

Wednesday, December 4, 2024

Maryland's license tax revenue up 27.6% in Q1 compared to previous quarter

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Brook E. Lierman, Maryland Comptroller | Comptroller of Maryland

Brook E. Lierman, Maryland Comptroller | Comptroller of Maryland

Maryland collected $259 million in license taxes during the first quarter of 2024, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This represents a 27.6% increase over the previous quarter, when license tax revenue was $203 million.

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 it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments. Also, not all states collect all types of taxes.

Overall, Maryland collected $6.9 billion in combined tax revenues in Q1.

Q1 Maryland Tax Collections

Type of TaxAmount (millions)
Income Taxes$3,724
License Taxes$259
Other Taxes$142
Property Taxes$7
Sales and Gross Receipts Taxes$2,750

Source: U.S. Census Bureau

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