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Thursday, November 21, 2024

Delaware's miscellaneous tax revenues down 32.4% in Q1 2023

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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 $50 million in miscellaneous tax revenue during the first quarter of 2023, a 32.4% decrease from the previous quarter, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Miscellaneous tax revenue reached $74 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.

Q1 2023 Delaware Tax Collections

Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$167
Income Taxes$725
License Taxes$797
Miscellaneous Taxes$50

Source: U.S. Census Bureau

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