Q2 2022: Virginia's combined tax revenues up 49.3% since Q1 2022

Craig M. Burns Tax Commissioner at Virginia Department of Taxation | Virginia Department of Taxation

By Old Dominion News

Jul 1, 2022

Virginia collected $12.5 billion in total tax revenues during the second quarter of 2022, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

These tax revenues stem from various sources, including property tax, sales and gross receipts tax, licenses, income tax, and miscellaneous tax.

The majority of the state’s tax revenue was collected through income taxes ($8.1 billion) and general sales and gross receipts taxes ($3.7 billion).

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.

Q2 2022 Virginia Tax Collections