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Saturday, November 23, 2024

Rhode Island collects $45 million in license tax revenue in Q1

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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

Rhode Island collected $45 million in license taxes during the first quarter of 2024, 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 it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments. Also, not all states collect all types of taxes.

Overall, Rhode Island collected $1 billion in combined tax revenues in Q1.

Q1 Rhode Island Tax Collections

Type of TaxAmount (millions)
Income Taxes$487
License Taxes$45
Other Taxes$12
Property Taxes$0
Sales and Gross Receipts Taxes$475

Source: U.S. Census Bureau

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