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Friday, October 11, 2024

Vermont’s license tax revenue down 21.1 percent in Q3 since the previous quarter

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Vermont collected $30 million in license taxes during the third quarter of 2021, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This is a 21.1 percent decrease from the previous quarter when license tax revenue was $38 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.

Overall, Vermont collected $691 million in combined tax revenues during the third quarter of 2021.

Q3 Vermont Tax Collections

Type of TaxAmount (in millions of dollars)
License Taxes$30
Income Taxes$293
Other Taxes$28
Property Taxes$1
Sales and Gross Receipts Taxes$338

Source: U.S. Census Bureau

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