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Thursday, November 21, 2024

Pennsylvania: Individual income tax revenue up 10.2% as of Q4 2022 compared to Q4 2021

Pennsylvania collected $3.6 billion in individual income taxes during the fourth quarter of 2022, a 10.2% increase over the same period in the previous year, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

In the fourth quarter of 2021, $3.3 billion was collected in individual income taxes.

Individual income taxes are based on net personal income and taxes imposed on such income as dividends, interest and income from intangibles.

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 state governments.

Overall, Pennsylvania collected $11.9 billion in combined tax revenues in the fourth quarter of 2022.

Q4 2022 Pennsylvania Tax Collections

Type of TaxAmount (in millions of dollars)
Property Taxes$0
Sales and Gross Receipts Taxes$5,884
License Taxes$561
Individual Income Taxes$3,606
Total Income Taxes$4,861
Other Taxes$570

Source: U.S. Census Bureau

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