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Monday, December 23, 2024

Wisconsin's combined tax revenues up 55.6% from Q3 to Q4 2022

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Secretary Peter W. Barca at Wisconsin Department of Revenue | Wisconsin Department of Revenue

Secretary Peter W. Barca at Wisconsin Department of Revenue | Wisconsin Department of Revenue

Combined tax revenues in Wisconsin increased 55.6% in the fourth 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, Wisconsin collected $7.1 billion in taxes during the fourth quarter of 2022, compared to $4.6 billion in the previous quarter.

The majority of the state’s tax revenue was collected through income taxes ($3.9 billion) and general sales and gross receipts taxes ($2.8 billion).

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.

Q4 Wisconsin Tax Collections
Type of TaxAmount (millions)
Income Taxes$3,863
Sales and Gross Receipts Taxes$2,785
License Taxes$356
Property Taxes$48
Other Taxes$33
Source: U.S. Census Bureau

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