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Friday, November 15, 2024

Maine's combined tax revenues down 11.4% from Q2 to Q3 2023

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

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

Combined tax revenues in Maine decreased 11.4% 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, Maine collected $1.7 billion in taxes during the third quarter of 2023, compared to $1.9 billion in the previous quarter.

The majority of the state’s tax revenue was collected through general sales and gross receipts taxes ($871 million) and income taxes ($715 million).


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

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 Maine Tax Collections
Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$871
Income Taxes$715
License Taxes$74
Property Taxes$35
Other Taxes$18
Source: U.S. Census Bureau

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