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Thursday, November 21, 2024

Q3 2023: Alaska's combined tax revenues down 14.4% since Q2 2023

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Adam Crum, Commissioner of Revenue | Alaska Department of Revenue

Adam Crum, Commissioner of Revenue | Alaska Department of Revenue

Alaska collected $493 million in total tax revenues during the third quarter of 2023, 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 ($211 million) and alcoholic beverages sales tax ($97 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.

Q3 2023 Alaska Tax Collections
Type of TaxAmount (millions)
Other Taxes$211
Sales and Gross Receipts Taxes$97
Property Taxes$90
Income Taxes$66
License Taxes$29

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