Combined tax revenues in Connecticut increased 50.4% in the fourth 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, Connecticut collected $5.1 billion in taxes during the fourth quarter of 2023, compared to $3.4 billion in the previous quarter.
The majority of the state’s tax revenue was collected through income taxes ($2.6 billion) and general sales and gross receipts taxes ($2.3 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.
| Type of Tax | Amount (millions) |
|---|---|
| Income Taxes | $2,611 |
| Sales and Gross Receipts Taxes | $2,292 |
| Other Taxes | $109 |
| License Taxes | $100 |
Source: U.S. Census Bureau
