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Friday, October 18, 2024

Q3 2022: Idaho's combined tax revenues down 32.4% since Q2 2022

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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 $1.7 billion in total tax revenues during the third quarter of 2022, 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 ($996 million) and income taxes ($638 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 2022 Idaho Tax Collections
Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$996
Income Taxes$638
License Taxes$111
Other Taxes$2

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