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Sunday, May 19, 2024

Maine's miscellaneous tax revenues down 16.7% in Q4 2023

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Kirsten Figueroa Commissioner of Revenue at Maine Revenue Services | Maine Revenue Service

Kirsten Figueroa Commissioner of Revenue at Maine Revenue Services | Maine Revenue Service

Maine collected $15 million in miscellaneous tax revenue during the fourth quarter of 2023, a 16.7% decrease from the previous quarter, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Miscellaneous tax revenue reached $18 million in the previous quarter.

Net sales reflect companies' total revenue stream, minus the costs of discounts, allowances and product returns.

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 2023 Maine Tax Collections

Type of TaxAmount (millions)
Property Taxes$2
Sales and Gross Receipts Taxes$809
Income Taxes$710
License Taxes$76
Miscellaneous Taxes$15

Source: U.S. Census Bureau

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