Quantcast

Keystone Today

Monday, October 7, 2024

Pennsylvania’s license tax revenue up 5.7 percent in Q1 since the same quarter of the previous year

Adobestock 174471984

Adobe Stock

Adobe Stock

Pennsylvania collected $968 million in license taxes during the first quarter of 2021, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This is a 5.7 percent increase over the same quarter of the previous year when license tax revenue was $916 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, Pennsylvania collected $12.2 billion in combined tax revenues during the first quarter of 2021.

Q1 Pennsylvania Tax Collections

Type of TaxAmount (in millions of dollars)
License Taxes$968
Income Taxes$4,289
Other Taxes$537
Property Taxes$1
Sales and Gross Receipts Taxes$6,379

Source: U.S. Census Bureau

MORE NEWS