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Monday, November 25, 2024

Residents and visitors to Connecticut paid $18.4 billion in taxes in 2020

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Connecticut collected $18.4 billion in taxes in 2020, a 3.8 percent decrease 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 income taxes ($10.2 billion) and sales and gross receipts taxes ($7.5 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 sets the tax classifications among the survey categories and cautions 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.

2020 Connecticut Tax Collections
Type of TaxAmount
Property taxes$0
Sales and gross receipts taxes$7,468,451,000
License taxes$370,415,000
Income taxes$10,239,719,000
Miscellaneous taxes$321,949,000
General sales and gross receipts taxes$4,581,615,000
Selective sales and gross receipts taxes$2,886,836,000
Alcoholic beverages sales tax$64,774,000
Amusements sales tax$234,835,000
Insurance premiums sales tax$190,259,000
Motor fuels sales tax$472,732,000
Pari-mutuels sales tax$11,224,000
Public utilities sales tax$268,919,000
Tobacco products sales tax$320,931,000
Other selective sales and gross receipts taxes$1,323,162,000
Alcoholic beverages license$7,953,000
Amusements license$229,000
Corporations in general license$32,538,000
Hunting and fishing license$5,054,000
Motor vehicle license$230,462,000
Motor vehicle operators license$33,585,000
Public utilities license$0
Occupation and business license, NEC$56,326,000
Other license taxes$4,268,000
Individual income taxes$8,177,456,000
Corporations net income taxes$2,062,263,000
Death and gift taxes$146,650,000
Documentarty and stock transfer taxes$175,028,000
Severance taxes$0
Taxes, NEC$271,000

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