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Sunday, May 19, 2024

Alaska's combined tax revenues down 14.6% from Q2 to Q3 2023

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Adam Crum, Commissioner of Revenue | Alaska Department of Revenue

Adam Crum, Commissioner of Revenue | Alaska Department of Revenue

Combined tax revenues in Alaska decreased 14.6% in the third quarter of 2023 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

Overall, Alaska collected $493 million in taxes during the third quarter of 2023, compared to $577 million in the previous quarter.

The majority of the state’s tax revenue was collected through severance taxes ($211 million) and alcoholic beverages sales tax ($97 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.

Q3 Alaska Tax Collections
Type of TaxAmount (millions)
Other Taxes$211
Sales and Gross Receipts Taxes$97
Property Taxes$90
Income Taxes$66
License Taxes$29
Source: U.S. Census Bureau

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