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Saturday, November 23, 2024

Q2 2023: New Hampshire's combined tax revenues down 5% since Q1 2023

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Lindsey M. Stepp, Commissioner of Revenue | New Hampshire Department of Revenue Administration

Lindsey M. Stepp, Commissioner of Revenue | New Hampshire Department of Revenue Administration

New Hampshire collected $1.1 billion in total tax revenues during the second 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 income taxes ($594 million) and alcoholic beverages sales tax ($313 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 2023 New Hampshire Tax Collections
Type of TaxAmount (millions)
Income Taxes$594
Sales and Gross Receipts Taxes$313
License Taxes$160
Other Taxes$37
Property Taxes$20

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