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Sunday, November 17, 2024

Idaho's combined tax revenues up 5.8% from Q3 to Q4 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

Combined tax revenues in Idaho increased 5.8% in the fourth quarter of 2021 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

Overall, Idaho collected $1.7 billion in taxes during the fourth quarter of 2021, compared to $1.6 billion in the previous quarter.

The majority of the state’s tax revenue was collected through general sales and gross receipts taxes ($849 million) and income taxes ($757 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.

Q4 Idaho Tax Collections
Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$849
Income Taxes$757
License Taxes$114
Other Taxes$1
Source: U.S. Census Bureau

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