Quantcast

South Vermont News

Monday, November 4, 2024

Residents and visitors to Vermont paid $3.3 billion in taxes in 2018

Adobestock 296341019

Adobe Stock

Adobe Stock

Vermont collected $3.3 billion in taxes in 2018, a 4 percent increase from the previous year, according to the U.S. Census Bureau’s Annual Survey of State Government Tax Collections (STC).

Most tax revenue came from sales and gross receipts taxes ($1.1 billion) and property taxes ($1.1 billion).

The STC survey includes five broad tax categories and up to 25 subcategories. Data is gathered from all 50 state governments and all dependent state-level entities.

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.

Below is a breakdown of how taxes were classified by the bureau and how much was collected.

2018 Vermont Tax Collections
Type of TaxAmount
Property taxes$1,065,767,000
Sales and gross receipts taxes$1,095,321,000
License taxes$126,404,000
Income taxes$930,149,000
Other taxes$66,590,000
General sales and gross receipts taxes$397,691,000
Selective sales and gross receipts taxes$697,630,000
Alcoholic beverages sales tax$26,892,000
Amusements sales tax$0
Insurance premiums sales tax$59,370,000
Motor fuels sales tax$82,953,000
Pari-mutuels sales tax$0
Public utilities sales tax$8,878,000
Tobacco products sales tax$71,078,000
Other selective sales and gross receipts taxes$448,459,000
Alcoholic beverages license$469,000
Amusements license$23,000
Corporations in general license$3,686,000
Hunting and fishing license$7,294,000
Motor vehicle license$72,957,000
Motor vehicle operators license$11,972,000
Public utilities license$0
Occupation and business license, nec$25,674,000
Other license taxes$4,329,000
Individual income taxes$819,330,000
Corporations net income taxes$110,819,000
Death and gift taxes$22,935,000
Documentary and stock transfer taxes$38,366,000
Severance taxes$0
Taxes, nec$5,289,000

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS