Quantcast

Old North News

Tuesday, November 5, 2024

Residents and visitors to North Carolina paid $28.3 billion in taxes in 2020

Adobestock 89829810

Adobe Stock

Adobe Stock

North Carolina collected $28.3 billion in taxes in 2020, a 3.5 percent decrease from the previous year, according to the U.S. Census Bureau’s Annual Survey of State Government Tax Collections (STC).

Most tax revenue came from income taxes ($13.2 billion) and sales and gross receipts taxes ($12.8 billion).

The STC survey includes five broad tax categories and up to 25 subcategories. Data is gathered from all 50 state governments and all dependent state-level entities.

The Census Bureau sets the tax classifications among the survey categories and cautions they may differ from the classifications set by the state governments.

Below is a breakdown of how taxes were classified by the bureau and how much was collected.

2020 North Carolina Tax Collections
Type of TaxAmount
Property taxes$0
Sales and gross receipts taxes$12,839,610,000
License taxes$2,197,546,000
Income taxes$13,168,249,000
Miscellaneous taxes$97,722,000
General sales and gross receipts taxes$8,473,886,000
Selective sales and gross receipts taxes$4,365,724,000
Alcoholic beverages sales tax$452,442,000
Amusements sales tax$48,000
Insurance premiums sales tax$675,023,000
Motor fuels sales tax$1,943,572,000
Pari-mutuels sales tax$0
Public utilities sales tax$277,000
Tobacco products sales tax$288,657,000
Other selective sales and gross receipts taxes$1,005,705,000
Alcoholic beverages license$24,477,000
Amusements license$177,000
Corporations in general license$752,141,000
Hunting and fishing license$35,858,000
Motor vehicle license$873,708,000
Motor vehicle operators license$109,255,000
Public utilities license$18,943,000
Occupation and business license, NEC$335,928,000
Other license taxes$47,059,000
Individual income taxes$12,505,906,000
Corporations net income taxes$662,343,000
Death and gift taxes$1,279,000
Documentarty and stock transfer taxes$94,719,000
Severance taxes$1,724,000
Taxes, NEC$0

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS