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Wednesday, December 4, 2024

Tax Revenue Analysis: New Jersey collects $4.3 billion in sales and gross receipt tax during Q4 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 $4.3 billion in sales and gross receipt taxes during the fourth quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Overall, New Jersey's combined tax revenues reached $11.1 billion during the year, as of fourth quarter of 2023.

Sales and gross receipt taxes include taxes on licenses, alcohol, amusements, insurance, fuel, parimutuels, public utilities and tobacco products.


Marita R. Sciarrotta Acting Director | NJ Division of Taxation

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.

Q4 2023 New Jersey Tax Collections

Type of TaxAmount (millions)
License Taxes$593
Sales and Gross Receipts Taxes$4,294
Property Taxes$5
Income Taxes$5,854
Other Taxes$323

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