Combined tax revenues in Rhode Island decreased 5.6% in the first quarter of 2022 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 $997 million in taxes during the first quarter of 2022, compared to $1.1 billion in the previous quarter.
The majority of the state’s tax revenue was collected through income taxes ($487 million) and general sales and gross receipts taxes ($439 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.
| Type of Tax | Amount (millions) |
|---|---|
| Income Taxes | $487 |
| Sales and Gross Receipts Taxes | $439 |
| License Taxes | $50 |
| Other Taxes | $13 |
| Property Taxes | $1 |
Source: U.S. Census Bureau
