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Monday, December 23, 2024

Washington’s combined tax revenues down 2.8% in Q4 compared to same quarter of the previous year

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Drew Shirk Director of the Department of Revenue at Washington Department of Revenue | Washington Department of Revenue

Drew Shirk Director of the Department of Revenue at Washington Department of Revenue | Washington Department of Revenue

The state of Washington collected $8.2 billion in income, license, miscellaneous other, property and sales and gross receipts taxes during the fourth quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This is a 2.8% decrease from the same quarter the previous year when combined tax revenues were $8.5 billion.

The majority of the state’s tax revenue was collected through sales and gross receipts taxes ($6.9 billion) and license taxes ($488 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 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.

Q4 Washington Tax Collections

Type of TaxAmount (millions)
Income Taxes$0
License Taxes$488
Other Taxes$432
Property Taxes$408
Sales and Gross Receipts Taxes$6,918

Source: U.S. Census Bureau

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