Delaware's combined tax revenues down 41.8% from Q2 to Q3 2023

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

By First State Times

Oct 2, 2023

Combined tax revenues in Delaware decreased 41.8% 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, Delaware collected $1.3 billion in taxes during the third quarter of 2023, compared to $2.2 billion in the previous quarter.

The majority of the state’s tax revenue was collected through income taxes ($649 million) and corporations in general license ($448 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.

Q3 Delaware Tax Collections