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Friday, November 15, 2024

Mississippi's miscellaneous tax revenues down 8.3% in Q3 2023

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Chris Graham, Commissioner of Revenue | Mississippi Department of Revenue

Chris Graham, Commissioner of Revenue | Mississippi Department of Revenue

Mississippi collected $11 million in miscellaneous tax revenue during the third quarter of 2023, an 8.3% decrease from the previous quarter, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Miscellaneous tax revenue reached $12 million in the previous quarter.

Net sales reflect companies' total revenue stream, minus the costs of discounts, allowances and product returns.

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.

Q3 2023 Mississippi Tax Collections

Type of TaxAmount (millions)
Property Taxes$7
Sales and Gross Receipts Taxes$1,646
Income Taxes$726
License Taxes$117
Miscellaneous Taxes$11

Source: U.S. Census Bureau

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