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Tuesday, December 24, 2024

North Carolina collects $4.6 billion in sales and gross receipt tax revenue in Q2 2022

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North Carolina collected $4.6 billion in sales and gross receipt taxes during the second quarter of 2022, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Overall, North Carolina collected $12.2 billion in combined tax revenues in the latest quarter.

Sales and gross receipt taxes include taxes on licenses, alcohol, amusements, insurance, fuel, parimutuels, public utilities and tobacco products.

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.

2nd Quarter North Carolina Tax Collections

Type of TaxAmount (in millions)
License Taxes$824
Sales and Gross Receipts Taxes$4,553
Income Taxes$6,795
Other Taxes$38

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