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Monday, December 30, 2024

Delaware's combined tax revenues down 3.9% in Q1 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 $1.7 billion in income, license, miscellaneous other and sales and gross receipts taxes during the first quarter of 2024, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This represents a 3.9% decrease from the same quarter of the previous year, when combined tax revenues were $1.7 billion.

The majority of the state's tax revenue was collected through license taxes ($743 million) and income taxes ($736 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.

Q1 Delaware Tax Collections

Type of TaxAmount (millions)
Income Taxes$736
License Taxes$743
Other Taxes$47
Sales and Gross Receipts Taxes$142

Source: U.S. Census Bureau

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