North Mecklenburg News

North Mecklenburg News

Tuesday, April 7, 2020

North Carolina's income tax revenue up 4.7 percent since Q1 2019


By Local Labs News Service | Dec 4, 2019

Shutterstock 450769633

North Carolina collected $3.1 billion in individual income taxes during the first quarter of 2019, a 4.7 percent increase over the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

The previous quarter income tax revenue was $3 billion.

Individual income taxes are based on net personal income and taxes imposed on such income as dividends, interest and income from intangibles.

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.

Overall, North Carolina collected $6.8 billion in combined tax revenues in the previous quarter.

Q1 North Carolina Tax Collections
Type of Tax
Amount (millions)
Sales and Gross Receipts Taxes
Income Taxes
License Taxes
Other Taxes
Source: U.S. Census Bureau

Want to get notified whenever we write about U.S. Census Bureau ?

Sign-up Next time we write about U.S. Census Bureau, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

U.S. Census Bureau

More News