New Jersey collected $703 million in license taxes during the first quarter of 2025, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.
This represents a 21% increase over the previous quarter, when license tax revenue was $581 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 that it sets the tax classifications among the survey categories, and they may differ from the classifications set by state governments.
Overall, New Jersey collected $13.1 billion in combined tax revenues in Q1.
| Type of Tax | Amount (millions) |
|---|---|
| Income Taxes | $7,231 |
| Sales and Gross Receipts Taxes | $4,800 |
| License Taxes | $703 |
| Other Taxes | $333 |
| Property Taxes | $1 |
Information in this article was obtained from the U.S. Census Bureau. The source data can be found here.
