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Saturday, November 16, 2024

Idaho’s combined tax revenues up 12.1 percent in Q3 since the same quarter of the previous year

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Idaho collected $1.6 billion in income, license, miscellaneous other and sales and gross receipts taxes during the third quarter of 2021, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This is a 12.1 percent increase over the same quarter the previous year when combined tax revenues were $1.5 billion.

The majority of the state’s tax revenue was collected through sales and gross receipts taxes ($922 million) and income taxes ($597 million).

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 it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments. Also, not all states collect all types of taxes.

Q3 Idaho Tax Collections

Type of TaxAmount (in millions of dollars)
Income Taxes$597
License Taxes$106
Other Taxes$2
Sales and Gross Receipts Taxes$922

Source: U.S. Census Bureau

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