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Wednesday, October 16, 2024

Delaware’s combined tax revenues down 1.7% in Q4 compared to same quarter of the previous year

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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 $1.3 billion in income, license, miscellaneous other and sales and gross receipts taxes during the fourth quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This is a 1.7% decrease from the same quarter the previous year when combined tax revenues were $1.3 billion.

The majority of the state’s tax revenue was collected through income taxes ($640 million) and license taxes ($433 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 it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments. Also, not all states collect all types of taxes.

Q4 Delaware Tax Collections

Type of TaxAmount (millions)
Income Taxes$640
License Taxes$433
Other Taxes$56
Sales and Gross Receipts Taxes$132

Source: U.S. Census Bureau

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