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Monday, December 30, 2024

Florida's miscellaneous tax revenues down 11.2% in Q4 2023

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Jim Zingale, Commissioner of Revenue | Florida Department of Revenue

Jim Zingale, Commissioner of Revenue | Florida Department of Revenue

Florida collected $948 million in miscellaneous tax revenue during the fourth quarter of 2023, an 11.2% decrease from the previous quarter, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Miscellaneous tax revenue reached $1.1 billion in the previous quarter.

Net sales reflect companies' total revenue stream, minus the costs of discounts, allowances and product returns.

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.

Q4 2023 Florida Tax Collections

Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$12,370
Income Taxes$1,331
License Taxes$704
Miscellaneous Taxes$948

Source: U.S. Census Bureau

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