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Saturday, November 23, 2024

Massachusetts ranks seventh in the U.S. for the most documentarty and stock transfer taxes paid in 2022

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In 2022, Massachusetts collected $542,995,000 in documentarty and stock transfer 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. documentarty and stock transfer taxes by State in 2022
RankStateAmount
1Florida$6,166,778,000
2New York$3,657,497,000
3Washington$2,468,426,000
4Pennsylvania$1,042,331,000
5New Jersey$948,373,000
6Virginia$853,896,000
7Massachusetts$542,995,000
8Michigan$542,386,000
9Tennessee$522,660,000
10Minnesota$393,946,000
11Maryland$357,373,000
12Connecticut$328,938,000
13Delaware$324,273,000
14South Carolina$237,831,000
15New Hampshire$235,385,000
16Nevada$191,497,000
17Hawaii$188,418,000
18North Carolina$162,055,000
19Illinois$121,871,000
20Wisconsin$121,382,000
21Vermont$113,493,000
22Arkansas$87,752,000
23Alabama$78,057,000
24Maine$61,859,000
25Iowa$38,021,000
26Oklahoma$37,756,000
27Nebraska$27,151,000
28Rhode Island$20,495,000
29Arizona$20,095,000
30West Virginia$17,856,000
31Missouri$15,496,000
32Kentucky$9,879,000
33Oregon$3,859,000
34South Dakota$195,000
Source: U.S. Census Bureau

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