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
This is a 26.5% increase over the previous quarter when sales and gross receipts tax revenue was $3.5 billion.
Sales and gross receipt taxes include taxes on licenses, alcohol, amusements, insurance, fuel, parimutuels, public utilities, and tobacco products.
Individual income taxes are based on net personal income and taxes imposed on dividends, interest, and income from intangibles.
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, Michigan collected $10.5 billion in combined tax revenues in Q4.
| Type of Tax | Amount (millions) |
|---|---|
| Income Taxes | $3,752 |
| License Taxes | $530 |
| Other Taxes | $113 |
| Property Taxes | $1,640 |
| Sales and Gross Receipts Taxes | $4,469 |
Source: U.S. Census Bureau
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