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Thursday, November 21, 2024

Alabama's individual income tax revenue unchanged as of Q3 2023 compared to Q3 2022

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Vernon Barrett, Commissioner of Revenue | Alabama Department of Revenue

Vernon Barrett, Commissioner of Revenue | Alabama Department of Revenue

Alabama collected $1.4 billion in individual income taxes during the third quarter of 2023, unchanged from the same period in the previous year, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

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 state governments.

Overall, Alabama collected $3.7 billion in combined tax revenues in the third quarter of 2023.

Q3 2023 Alabama Tax Collections

Type of TaxAmount (in millions of dollars)
Property Taxes$19
Sales and Gross Receipts Taxes$1,761
License Taxes$119
Individual Income Taxes$1,403
Total Income Taxes$1,783
Other Taxes$31

Source: U.S. Census Bureau

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