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Saturday, November 23, 2024

Q4 2022: Maine's combined tax revenues down 9.7% since Q3 2022

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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 $1.5 billion in total tax revenues during the fourth 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 general sales and gross receipts taxes ($786 million) and income taxes ($661 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 2022 Maine Tax Collections
Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$786
Income Taxes$661
License Taxes$70
Other Taxes$22
Property Taxes$1

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