Quantcast

Keystone Today

Tuesday, November 5, 2024

Pennsylvania's combined tax revenues down 18.2% from Q2 to Q3 2023

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 18.2% in the third quarter of 2023 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

Overall, Pennsylvania collected $12.1 billion in taxes during the third quarter of 2023, compared to $14.8 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.

Q3 Pennsylvania Tax Collections
Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$5,883
Income Taxes$4,917
License Taxes$738
Other Taxes$566
Property Taxes$2
Source: U.S. Census Bureau

MORE NEWS