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Sunday, February 23, 2020

North Carolina ranks 10th in the U.S. for the most insurance premiums sales tax paid in 2018.

Government

By Local Labs News Service | Oct 29, 2019

Money836

In 2018, North Carolina collected $589 million in insurance premiums sales tax, ranking it 10th in the United States, according to the U.S. Census Bureau's Annual Survey of State Government Tax Collections (STC).

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.

U.S. insurance premiums sales tax by State in 2018
Rank
State
Amount
1
California
$2,569,271,000
2
Texas
$2,445,005,000
3
New York
$1,623,191,000
4
Florida
$1,084,872,000
5
Tennessee
$970,831,000
6
Louisiana
$870,872,000
7
Pennsylvania
$836,186,000
8
Washington
$630,657,000
9
New Jersey
$591,243,000
10
North Carolina
$589,037,000
11
Ohio
$582,794,000
12
Arizona
$550,438,000
13
Maryland
$541,758,000
14
Minnesota
$519,547,000
15
Virginia
$516,743,000
16
Georgia
$505,054,000
17
Missouri
$464,418,000
18
Illinois
$456,406,000
19
Kansas
$408,321,000
20
Massachusetts
$406,251,000
21
Michigan
$395,999,000
22
Nevada
$395,701,000
23
Alabama
$376,766,000
24
Mississippi
$338,576,000
25
Oklahoma
$328,756,000
26
Colorado
$262,411,000
27
South Carolina
$239,215,000
28
Indiana
$236,175,000
29
Arkansas
$223,362,000
30
Connecticut
$209,026,000
31
Wisconsin
$207,729,000
32
West Virginia
$169,607,000
33
New Mexico
$169,355,000
34
Hawaii
$165,602,000
35
Kentucky
$165,161,000
36
Utah
$135,180,000
37
District of Columbia
$115,290,000
38
Iowa
$114,363,000
39
New Hampshire
$111,972,000
40
Montana
$110,827,000
41
Delaware
$110,292,000
42
Maine
$99,654,000
43
Idaho
$97,359,000
44
South Dakota
$92,488,000
45
Rhode Island
$81,519,000
46
Oregon
$70,903,000
47
North Dakota
$63,274,000
48
Nebraska
$62,662,000
49
Alaska
$62,429,000
50
Vermont
$59,370,000
51
Wyoming
$23,481,000
Source: U.S. Census Bureau

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