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Maryland State Wire

Wednesday, December 4, 2024

Maryland's license tax revenue up 0.3% in Q2 compared to same quarter of the previous year

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Brook E. Lierman, Maryland Comptroller | Comptroller of Maryland

Brook E. Lierman, Maryland Comptroller | Comptroller of Maryland

Maryland collected $324 million in license taxes during the second quarter of 2024, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This represents a 0.3% increase over the same quarter the previous year, when license tax revenue was $323 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 $9.7 billion in combined tax revenues in Q2.

Q2 Maryland Tax Collections

Type of TaxAmount (millions)
Income Taxes$4,466
License Taxes$324
Other Taxes$276
Property Taxes$335
Sales and Gross Receipts Taxes$4,317

Source: U.S. Census Bureau

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