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Wednesday, December 4, 2024

Delaware's license tax revenue up 28.7% in Q2 compared to previous quarter

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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 $956 million in license taxes during the second quarter of 2024, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This represents a 28.7% increase over the previous quarter, when license tax revenue was $743 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.

Overall, Delaware collected $2.3 billion in combined tax revenues in Q2.

Q2 Delaware Tax Collections

Type of TaxAmount (millions)
Income Taxes$1,047
License Taxes$956
Other Taxes$56
Sales and Gross Receipts Taxes$220

Source: U.S. Census Bureau

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