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Monday, December 23, 2024

South Carolina's miscellaneous tax revenues down 31.8% in Q3 2022

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W. Hartley Powell, Director of Department of Revenue at South Carolina Department of Revenue | South Carolina Department of Revenue

W. Hartley Powell, Director of Department of Revenue at South Carolina Department of Revenue | South Carolina Department of Revenue

South Carolina collected $105 million in miscellaneous tax revenue during the third quarter of 2022, a 31.8% decrease from the previous quarter, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Miscellaneous tax revenue reached $154 million 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.

Q3 2022 South Carolina Tax Collections

Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$1,870
Income Taxes$2,251
License Taxes$137
Miscellaneous Taxes$105

Source: U.S. Census Bureau

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