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Wednesday, December 4, 2024

Idaho's license tax revenue up 13.7% in Q2 compared to same quarter of the previous year

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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 $141 million in license taxes during the second quarter of 2024, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This represents a 13.7% increase over the same quarter the previous year, when license tax revenue was $124 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 $3.3 billion in combined tax revenues in Q2.

Q2 Idaho Tax Collections

Type of TaxAmount (millions)
Income Taxes$1,488
License Taxes$141
Other Taxes$2
Sales and Gross Receipts Taxes$1,677

Source: U.S. Census Bureau

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