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Thursday, November 21, 2024

Q4 2022: Alaska's combined tax revenues down 30.9% since Q3 2022

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Adam Crum, Commissioner of Revenue | Alaska Department of Revenue

Adam Crum, Commissioner of Revenue | Alaska Department of Revenue

Alaska collected $903 million in total tax revenues during the fourth quarter of 2022, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

These tax revenues stem from various sources, including property tax, sales and gross receipts tax, licenses, income tax, and miscellaneous tax.

The majority of the state’s tax revenue was collected through severance taxes ($657 million) and corporation net income taxes ($145 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.

Q4 2022 Alaska Tax Collections
Type of TaxAmount (millions)
Other Taxes$657
Income Taxes$145
Sales and Gross Receipts Taxes$68
License Taxes$33

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