Combined tax revenues in North Carolina decreased 19% in the third quarter of 2024 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.
Overall, North Carolina collected $9.2 billion in taxes during the third quarter of 2024, compared to $11.4 billion in the previous quarter.
The majority of the state’s tax revenue was collected through general sales and gross receipts taxes ($4.5 billion) and income taxes ($4.2 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.
| Type of Tax | Amount (millions) |
|---|---|
| Sales and Gross Receipts Taxes | $4,450 |
| Income Taxes | $4,206 |
| License Taxes | $490 |
| Other Taxes | $32 |
Source: U.S. Census Bureau
