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Saturday, October 12, 2024

Residents and visitors to Virginia paid $23.5 billion in taxes in 2018

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Virginia collected $23.5 billion in taxes in 2018, a 5.8 percent increase 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 ($15 billion) and sales and gross receipts taxes ($7.1 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 cautions that it sets the tax classifications among the survey categories, and 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.

2018 Virginia Tax Collections
Type of TaxAmount
Property taxes$31,890,000
Sales and gross receipts taxes$7,087,195,000
License taxes$878,751,000
Income taxes$14,967,663,000
Other taxes$523,899,000
General sales and gross receipts taxes$4,076,636,000
Selective sales and gross receipts taxes$3,010,559,000
Alcoholic beverages sales tax$231,250,000
Amusements sales tax$84,000
Insurance premiums sales tax$516,743,000
Motor fuels sales tax$1,031,034,000
Pari-mutuels sales tax$0
Public utilities sales tax$116,584,000
Tobacco products sales tax$160,383,000
Other selective sales and gross receipts taxes$954,481,000
Alcoholic beverages license$14,591,000
Amusements license$107,000
Corporations in general license$64,102,000
Hunting and fishing license$29,393,000
Motor vehicle license$492,825,000
Motor vehicle operators license$41,288,000
Public utilities license$0
Occupation and business license, nec$231,791,000
Other license taxes$4,654,000
Individual income taxes$14,105,766,000
Corporations net income taxes$861,897,000
Death and gift taxes$932,000
Documentary and stock transfer taxes$386,598,000
Severance taxes$2,695,000
Taxes, nec$133,674,000

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