Quantcast

Keystone Today

Sunday, November 24, 2024

Pennsylvania's combined tax revenues down 1.3% from Q3 to Q4 2022

Webp b5fmaizbbtkmkz9ypzirbe6eawz9

Patrick M. Browne Secretary of Revenue at Pennsylvania Department of Revenue | Pennsylvania Department of Revenue

Patrick M. Browne Secretary of Revenue at Pennsylvania Department of Revenue | Pennsylvania Department of Revenue

Combined tax revenues in Pennsylvania decreased 1.3% in the fourth quarter of 2022 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

Overall, Pennsylvania collected $11.9 billion in taxes during the fourth quarter of 2022, compared to $12.1 billion in the previous quarter.

The majority of the state’s tax revenue was collected through general sales and gross receipts taxes ($5.9 billion) and income taxes ($4.9 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.

Q4 Pennsylvania Tax Collections
Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$5,884
Income Taxes$4,861
Other Taxes$570
License Taxes$561
Source: U.S. Census Bureau

MORE NEWS