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Monday, December 23, 2024

Vermont’s combined tax revenues up 25.1 percent in Q2 since the same quarter of the previous year

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Vermont collected $1.9 billion in income, license, miscellaneous other, property and sales and gross receipts taxes during the second quarter of 2021, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This is a 25.1 percent increase over the same quarter the previous year when combined tax revenues were $1.5 billion.

The majority of the state’s tax revenue was collected through property taxes ($1.1 billion) and income taxes ($440 million).

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.

Q2 Vermont Tax Collections

Type of TaxAmount (in millions of dollars)
Income Taxes$440
License Taxes$38
Other Taxes$26
Property Taxes$1,102
Sales and Gross Receipts Taxes$319

Source: U.S. Census Bureau

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