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Wednesday, November 27, 2024

Arizona's combined tax revenues down 5.1% from Q2 to Q3 2023

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Rob Woods Director of Department of Revenue at state of Arizona Dpt. of Revenue | State of Arizona Department of Revenue

Rob Woods Director of Department of Revenue at state of Arizona Dpt. of Revenue | State of Arizona Department of Revenue

Combined tax revenues in Arizona decreased 5.1% in the third quarter of 2023 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

Overall, Arizona collected $6.2 billion in taxes during the third quarter of 2023, compared to $6.5 billion in the previous quarter.

The majority of the state’s tax revenue was collected through general sales and gross receipts taxes ($3.4 billion) and income taxes ($2.1 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 that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q3 Arizona Tax Collections
Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$3,351
Income Taxes$2,078
Property Taxes$555
License Taxes$151
Other Taxes$16
Source: U.S. Census Bureau

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