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Wednesday, May 8, 2024

Alaska's combined tax revenues up 21.3% from Q2 to Q3 2022

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Adam Crum, Commissioner of Revenue | Alaska Department of Revenue

Adam Crum, Commissioner of Revenue | Alaska Department of Revenue

Combined tax revenues in Alaska increased 21.3% in the third quarter of 2022 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

Overall, Alaska collected $1.3 billion in taxes during the third quarter of 2022, compared to $1.1 billion in the previous quarter.

The majority of the state’s tax revenue was collected through severance taxes ($964 million) and corporation net income taxes ($133 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 Alaska Tax Collections
Type of TaxAmount (millions)
Other Taxes$964
Income Taxes$133
Sales and Gross Receipts Taxes$96
Property Taxes$85
License Taxes$28
Source: U.S. Census Bureau

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