Stephanie Schardin Clarke Tax Commissioner at New Mexico Taxation and Revenue Department | New Mexico Taxation and Revenue Department
Stephanie Schardin Clarke Tax Commissioner at New Mexico Taxation and Revenue Department | New Mexico Taxation and Revenue Department
This is a 4.1% decrease from the same quarter the previous year when combined tax revenues were $3.5 billion.
The majority of the state’s tax revenue was collected through sales and gross receipts taxes ($1.3 billion) and miscellaneous other taxes ($1.3 billion).
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.
| Type of Tax | Amount (millions) |
|---|---|
| Income Taxes | $668 |
| License Taxes | $95 |
| Other Taxes | $1,250 |
| Property Taxes | $5 |
| Sales and Gross Receipts Taxes | $1,305 |
Source: U.S. Census Bureau
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