Quantcast

Ocean State Today

Friday, May 17, 2024

Rhode Island's combined tax revenues down 9.7% from Q4 to Q1 2023

Webp autfxy9556iacidbsy008t5bmix3

Rhode Island Division of Taxation - Thomas Verdi Director of Department of Revenue | Rhode Island Division of Taxation

Rhode Island Division of Taxation - Thomas Verdi Director of Department of Revenue | Rhode Island Division of Taxation

Combined tax revenues in Rhode Island decreased 9.7% in the first 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, Rhode Island collected $983 million in taxes during the first quarter of 2023, compared to $1.1 billion in the previous quarter.

The majority of the state’s tax revenue was collected through income taxes ($460 million) and general sales and gross receipts taxes ($446 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 the state governments.

Q1 Rhode Island Tax Collections
Type of TaxAmount (millions)
Income Taxes$460
Sales and Gross Receipts Taxes$446
License Taxes$55
Other Taxes$15
Source: U.S. Census Bureau

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS