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Friday, May 17, 2024

Florida's combined tax revenues up 6.2% from Q4 to Q1 2023

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Jim Zingale, Commissioner of Revenue | Florida Department of Revenue

Jim Zingale, Commissioner of Revenue | Florida Department of Revenue

Combined tax revenues in Florida increased 6.2% in the first 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, Florida collected $15.7 billion in taxes during the first quarter of 2023, compared to $14.7 billion in the previous quarter.

The majority of the state’s tax revenue was collected through general sales and gross receipts taxes ($13.2 billion) and documentary and stock transfer taxes ($935 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.

Q1 Florida Tax Collections
Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$13,204
Other Taxes$935
License Taxes$834
Income Taxes$685
Source: U.S. Census Bureau

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