Of the $43.5 billion in taxes collected by Massachusetts in 2022, $4.6 billion came from corporations net income taxes, a 25.3 percent increase over the previous year, according to the U.S. Census Bureau’s Annual Survey of State Government Tax Collections (STC).
Massachusetts collected $3.7 billion in corporations net income taxes in 2021.
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 subcategory and how much was collected.
| Type of Tax | 2022 amount | 2021 amount |
|---|---|---|
| Documentarty and stock transfer taxes | $542,995,000 | $479,389,000 |
| Selective sales and gross receipts taxes | $3,051,607,000 | $2,642,763,000 |
| Tobacco products sales tax | $390,686,000 | $398,214,000 |
| Motor vehicle license | $452,807,000 | $472,172,000 |
| Motor fuels sales tax | $722,788,000 | $662,932,000 |
| Other license taxes | $291,743,000 | $315,269,000 |
| Death and gift taxes | $868,444,000 | $787,764,000 |
| Occupation and business license, NEC | $418,163,000 | $351,358,000 |
| Alcoholic beverages license | $4,313,000 | $4,091,000 |
| Amusements license | $13,153,000 | $11,396,000 |
| Individual income taxes | $24,399,902,000 | $19,683,486,000 |
| Hunting and fishing license | $6,330,000 | $6,337,000 |
| Insurance premiums sales tax | $587,997,000 | $537,405,000 |
| General sales and gross receipts taxes | $8,716,276,000 | $7,785,108,000 |
| Pari-mutuels sales tax | $1,080,000 | $1,117,000 |
| Other selective sales and gross receipts taxes | $949,903,000 | $725,248,000 |
| Corporations in general license | $28,332,000 | $27,548,000 |
| Alcoholic beverages sales tax | $97,643,000 | $93,206,000 |
| Amusements sales tax | $301,510,000 | $224,641,000 |
| Corporations net income taxes | $4,601,008,000 | $3,672,995,000 |
| Motor vehicle operators license | $84,265,000 | $86,081,000 |
Source: U.S. Census Bureau
