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Thursday, November 21, 2024

Alaska's combined tax revenues up 14% from Q1 to Q2 2023

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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 14% in the second quarter of 2023 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

Overall, Alaska collected $577 million in taxes during the second quarter of 2023, compared to $506 million in the previous quarter.

The majority of the state’s tax revenue was collected through severance taxes ($287 million) and corporation net income taxes ($155 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.

Q2 Alaska Tax Collections
Type of TaxAmount (millions)
Other Taxes$287
Income Taxes$155
Sales and Gross Receipts Taxes$76
Property Taxes$38
License Taxes$21
Source: U.S. Census Bureau

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