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Sunday, November 24, 2024

Montana's combined tax revenues down 6.4 percent since Q4 2020

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Montana collected $819 million in total tax revenues for property, sales and gross receipts, licenses, income taxes and miscellaneous taxes during the first quarter of 2021, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

The majority of the state’s tax revenue was collected through individual income taxes ($394 million) and occupation and business license, not elsewhere classified ($98 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.

Q1 2021 Montana Tax Collections
Type of TaxAmount (millions)
Property Taxes$47
Sales and Gross Receipts Taxes$166
Income Taxes$415
License Taxes$160
Other Taxes$31

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