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Thursday, November 21, 2024

Alaska’s combined tax revenues down 40.9% in Q4 compared to same quarter of the previous year

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Adam Crum, Commissioner of Revenue | Alaska Department of Revenue

Adam Crum, Commissioner of Revenue | Alaska Department of Revenue

Alaska collected $534 million 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 40.9% decrease from the same quarter the previous year when combined tax revenues were $903 million.

The majority of the state’s tax revenue was collected through miscellaneous other taxes ($342 million) and income taxes ($85 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 Alaska Tax Collections

Type of TaxAmount (millions)
Income Taxes$85
License Taxes$33
Other Taxes$342
Property Taxes$0
Sales and Gross Receipts Taxes$75

Source: U.S. Census Bureau

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