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Gem State Wire

Saturday, November 16, 2024

Idaho’s license tax revenue down 17.8 percent in Q3 since the previous quarter

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Idaho collected $106 million in license 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 17.8 percent decrease from the previous quarter when license tax revenue was $129 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.

Overall, Idaho collected $1.6 billion in combined tax revenues during the third quarter of 2021.

Q3 Idaho Tax Collections

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

Source: U.S. Census Bureau

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