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Monday, November 25, 2024

Q3 2022: Vermont's combined tax revenues down 63.6% since Q2 2022

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Vermont Tax Commissioner Craig Bolio | Vermont Department of Taxes

Vermont Tax Commissioner Craig Bolio | Vermont Department of Taxes

Vermont collected $794 million in total tax revenues during the third quarter of 2022, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

These tax revenues stem from various sources, including property tax, sales and gross receipts tax, licenses, income tax, and miscellaneous tax.

The majority of the state’s tax revenue was collected through income taxes ($367 million) and general sales and gross receipts taxes ($365 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 that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q3 2022 Vermont Tax Collections
Type of TaxAmount (millions)
Income Taxes$367
Sales and Gross Receipts Taxes$365
License Taxes$30
Other Taxes$30
Property Taxes$1

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