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Gem State Wire

Sunday, November 17, 2024

Q3 2021: Idaho's combined tax revenues down 28.5% since Q2 2021

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Jeff McCray, Chairman of Tax Commission | Illinois Department of Revenue

Jeff McCray, Chairman of Tax Commission | Illinois Department of Revenue

Idaho collected $1.6 billion in total tax revenues during the third quarter of 2021, 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 general 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 that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q3 2021 Idaho Tax Collections
Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$922
Income Taxes$597
License Taxes$106
Other Taxes$2
Property Taxes-

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