Old Dominion News

Virginia collected $7 billion in individual income taxes during the second quarter of 2022, a 27.9% increase over the same period the previous year, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

In the second quarter of 2021, $5.4 billion was collected.

Individual income taxes are based on net personal income and taxes imposed on such income as dividends, interest and income from intangibles.

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 state governments.

Overall, Virginia collected $12.5 billion in combined tax revenues in the second quarter of 2022.

Type of Tax	Amount (in millions of dollars)
Property Taxes	$46
Sales and Gross Receipts Taxes	$3,739
License Taxes	$318
Income Taxes	$8,145
Other Taxes	$282

Source: U.S. Census Bureau