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Saturday, November 23, 2024

Massachusetts collects $324 million in license tax revenue in Q1

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Geoffrey E. Snyder Commissioner of Revenue at Massachusetts Department of Revenue | Massachusetts Department of Revenue

Geoffrey E. Snyder Commissioner of Revenue at Massachusetts Department of Revenue | Massachusetts Department of Revenue

Massachusetts collected $324 million in license taxes during the first quarter of 2024, 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 it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments. Also, not all states collect all types of taxes.

Overall, Massachusetts collected $10.2 billion in combined tax revenues in Q1.

Q1 Massachusetts Tax Collections

Type of TaxAmount (millions)
Income Taxes$6,599
License Taxes$324
Other Taxes$166
Property Taxes$0
Sales and Gross Receipts Taxes$3,078

Source: U.S. Census Bureau

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