Quantcast

Keystone Today

Friday, November 8, 2024

Pennsylvania’s combined tax revenues down 4.2 percent in Q3 since the same quarter of the previous year

Adobestock 305152488

Adobe Stock

Adobe Stock

Pennsylvania collected $11.4 billion in income, license, miscellaneous other, property and sales and gross receipts taxes during the third quarter of 2021, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This is a 4.2 percent decrease from the same quarter the previous year when combined tax revenues were $11.9 billion.

The majority of the state’s tax revenue was collected through sales and gross receipts taxes ($5.6 billion) and income taxes ($4.4 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 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.

Q3 Pennsylvania Tax Collections

Type of TaxAmount (in millions of dollars)
Income Taxes$4,375
License Taxes$697
Other Taxes$631
Property Taxes$2
Sales and Gross Receipts Taxes$5,647

Source: U.S. Census Bureau

MORE NEWS