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Sunday, December 22, 2024

Michigan's miscellaneous tax revenues down 42.1% since Q1 2023

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Rachael Eubanks State Treasurer at Michigan Department of Treasury | Michigan Department of Treasury

Rachael Eubanks State Treasurer at Michigan Department of Treasury | Michigan Department of Treasury

Michigan collected $88 million in miscellaneous tax revenue during the first quarter of 2023, a 42.1% decrease from the same period the previous year when $152 million was reported, 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 that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q1 2023 Michigan Tax Collections

Type of TaxAmount (millions)
Property Taxes$77
Sales and Gross Receipts Taxes$4,201
Income Taxes$2,801
License Taxes$652
Miscellaneous Taxes$88

Source: U.S. Census Bureau

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