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Saturday, November 23, 2024

Massachusetts ranks seventh in the U.S. for the most corporations net income taxes paid in 2022

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In 2022, Massachusetts collected $4,601,008,000 in corporations net income taxes, ranking it seventh in the United States, according to the U.S. Census Bureau's Annual Survey of State Government Tax Collections (STC).

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 cautions it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Below is a breakdown of how taxes were classified by the bureau and how much was collected.

U.S. corporations net income taxes by State in 2022
RankStateAmount
1California$46,005,502,000
2Illinois$9,629,688,000
3New Jersey$8,660,149,000
4New York$7,780,845,000
5Pennsylvania$5,007,127,000
6Minnesota$4,729,850,000
7Massachusetts$4,601,008,000
8Florida$3,780,770,000
9Connecticut$3,487,484,000
10Tennessee$2,999,297,000
11Wisconsin$2,927,101,000
12Georgia$2,509,683,000
13Maryland$2,141,942,000
14Virginia$1,978,697,000
15Michigan$1,794,301,000
16North Carolina$1,631,119,000
17Indiana$1,539,543,000
18Colorado$1,508,480,000
19Oregon$1,488,974,000
20Alabama$1,463,618,000
21New Hampshire$1,213,000,000
22South Carolina$1,204,176,000
23Kentucky$1,168,370,000
24Arizona$1,163,469,000
25Idaho$1,040,953,000
26Louisiana$1,039,929,000
27Utah$935,481,000
28Kansas$868,262,000
29Iowa$860,164,000
30Arkansas$826,703,000
31Oklahoma$811,693,000
32Missouri$751,969,000
33Nebraska$715,153,000
34Mississippi$710,719,000
35Delaware$498,885,000
36Maine$415,818,000
37Alaska$413,175,000
38West Virginia$366,316,000
39Hawaii$314,873,000
40New Mexico$310,081,000
41Montana$291,198,000
42Rhode Island$290,800,000
43Vermont$240,402,000
44North Dakota$229,201,000
45South Dakota$61,818,000
46Ohio$721,000
Source: U.S. Census Bureau

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