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Monday, December 23, 2024

Vermont's combined tax revenues up 11.6% from Q3 to Q4 2021

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Vermont Tax Commissioner Craig Bolio | Vermont Department of Taxes

Vermont Tax Commissioner Craig Bolio | Vermont Department of Taxes

Combined tax revenues in Vermont increased 11.6% in the fourth quarter of 2021 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

Overall, Vermont collected $780 million in taxes during the fourth quarter of 2021, compared to $699 million in the previous quarter.

The majority of the state’s tax revenue was collected through general sales and gross receipts taxes ($336 million) and income taxes ($269 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.

Q4 Vermont Tax Collections
Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$336
Income Taxes$269
Property Taxes$105
Other Taxes$38
License Taxes$32
Source: U.S. Census Bureau

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