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Wednesday, December 4, 2024

New Jersey's miscellaneous tax revenues down 17.4% since Q1 2023

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Marita R. Sciarrotta Acting Director Divison of Taxation at New Jersey Division of Taxation | New Jersey Division of Taxation

Marita R. Sciarrotta Acting Director Divison of Taxation at New Jersey Division of Taxation | New Jersey Division of Taxation

New Jersey collected $280 million in miscellaneous tax revenue during the first quarter of 2023, a 17.4% decrease from the same period the previous year when $339 million was reported, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

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 the state governments.

Q1 2023 New Jersey Tax Collections

Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$4,769
Income Taxes$6,550
License Taxes$631
Miscellaneous Taxes$280

Source: U.S. Census Bureau

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