Quantcast

Maryland State Wire

Monday, May 19, 2025

Maryland's combined tax revenues up 40.6% from Q1 to Q2 2024

Webp as3hysd6knxeow7v4suh8apnftkr

Brook E. Lierman, Maryland Comptroller | Comptroller of Maryland

Brook E. Lierman, Maryland Comptroller | Comptroller of Maryland

Combined tax revenues in Maryland increased 40.6% in the second quarter of 2024 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

Overall, Maryland collected $9.7 billion in taxes during the second quarter of 2024, compared to $6.9 billion in the previous quarter.

The majority of the state’s tax revenue was collected through income taxes ($4.5 billion) and general sales and gross receipts taxes ($4.3 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.

Q2 Maryland Tax Collections
Type of TaxAmount (millions)
Income Taxes$4,466
Sales and Gross Receipts Taxes$4,317
Property Taxes$335
License Taxes$324
Other Taxes$276
Source: U.S. Census Bureau

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