Business

State tax collections increase for fiscal year 2012

State tax collections increased 0.9 percent to $16.2 billion in Fiscal Year 2012, according to Tax Statistics 2012, published online by the Washington State Department of Revenue.

State sales and use taxes were the largest component of state tax collections at $7.2 billion, or 44.8 percent of total state taxes.  Business and occupation tax collections came in second at $3.1 billion, or 19.4 percent, followed by the state property tax levy at $1.9 billion or 11.7 percent.  Motor fuels taxes were fourth at $1.2 billion or 7.3 percent.

Real estate excise taxes, which reached nearly $1.2 billion in Fiscal Year 2007, came in at $422 million, or 2.6 percent of the total.

In addition to a compilation of state taxes by type, the annual report provides local excise tax collections, new business registrations, businesses by county, and historical tax collections. Visit the following website to view the entire report: http://dor.wa.gov/Content/AboutUs/StatisticsAndReports/2012/Tax_Statistics_2012/default.aspx

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