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Thursday, November 7, 2024

Q1 2023: Delaware's combined tax revenues up 34.9% since Q4 2022

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Kathy L. Revel Director Division of Revenue at Delaware Department of Finance | Delaware Department of Finance - Division of Revenue

Kathy L. Revel Director Division of Revenue at Delaware Department of Finance | Delaware Department of Finance - Division of Revenue

Delaware collected $1.7 billion in total tax revenues during the first quarter of 2023, 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 alcoholic beverages license ($797 million) and income taxes ($725 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.

Q1 2023 Delaware Tax Collections
Type of TaxAmount (millions)
License Taxes$797
Income Taxes$725
Sales and Gross Receipts Taxes$167
Other Taxes$50

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