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Thursday, November 21, 2024

North Carolina's miscellaneous tax revenues down 30% since Q3 2023

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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 $28 million in miscellaneous tax revenue during the third quarter of 2023, a 30% decrease from the same period the previous year when $40 million was reported, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

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.

Q3 2023 North Carolina Tax Collections

Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$4,362
Income Taxes$4,075
License Taxes$456
Miscellaneous Taxes$28

Source: U.S. Census Bureau

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