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Wednesday, November 6, 2024

North Carolina’s license tax revenue up 37.1 percent in Q2 since the same quarter of the previous year

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North Carolina collected $810 million in license taxes during the second quarter of 2021, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This is a 37.1 percent increase over the same quarter of the previous year when license tax revenue was $591 million.

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 it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments. Also, not all states collect all types of taxes.

Overall, North Carolina collected $11 billion in combined tax revenues during the second quarter of 2021.

Q2 North Carolina Tax Collections

Type of TaxAmount (in millions of dollars)
License Taxes$810
Income Taxes$6,053
Other Taxes$32
Sales and Gross Receipts Taxes$4,141

Source: U.S. Census Bureau

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