Combined tax revenues in Vermont decreased 63.1% in the third quarter of 2023 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.
Overall, Vermont collected $756 million in taxes during the third quarter of 2023, compared to $2.1 billion in the previous quarter.
The majority of the state’s tax revenue was collected through general sales and gross receipts taxes ($366 million) and income taxes ($325 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.
| Type of Tax | Amount (millions) |
|---|---|
| Sales and Gross Receipts Taxes | $366 |
| Income Taxes | $325 |
| Other Taxes | $34 |
| License Taxes | $30 |
| Property Taxes | $1 |
Source: U.S. Census Bureau
