Quantcast

Old North News

Monday, December 23, 2024

Q1 2022: North Carolina's combined tax revenues up 8.4% since Q4 2021

Webp la5w5mykkjpyz6fe8y7qhgw5gbei

Ronald G. Penny, Commissioner of Revenue | North Carolina Department of Revenue

Ronald G. Penny, Commissioner of Revenue | North Carolina Department of Revenue

North Carolina collected $9.2 billion in total tax revenues during the first quarter of 2022, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

These tax revenues stem from various sources, including property tax, sales and gross receipts tax, licenses, income tax, and miscellaneous tax.

The majority of the state’s tax revenue was collected through income taxes ($4.6 billion) and general sales and gross receipts taxes ($3.9 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.

Q1 2022 North Carolina Tax Collections
Type of TaxAmount (millions)
Income Taxes$4,648
Sales and Gross Receipts Taxes$3,946
License Taxes$574
Other Taxes$40

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